#28 Stock Update: Mining sector stock Pick for Portolio-"Adani Enterprise"

Mining sector stocks has seen beating of around 50-80% on avg after the scam in 2010. Some of the stock from sector which saw the most beating are Adani Enterprise, JSWSteel and Jindal Stel. Looking at those counters now Adani Enterprise chart seems to saw some positive trait. Stock has declined from 770 to 153 in 2 years. From the low of 153 it made a high of 290 in recent months. Thats almost 90% return frm the low. This gives some confirmation!!! have a look at weekly chart it gives a technical support at 207 and did bounced back from there. On other hand Guj govt took away the stay order from the company for mining and this may bring some positive move from the stock. So we recommend to go long long at 232 with tgts of  435 and 890 for long term.

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