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MARKET WATCH: UTV Software (Rs 366): Buy.

Business Line

| July 21, 2009 | COPYRIGHT 1999 Kasturi & Sons Ltd. (Hide copyright information)Copyright

from BUSINESS LINE, July 21, 2009 We recommend a buy in UTV Software Communications from a short-term trading perspective. It is apparent from the charts of UTV Software that after a medium-term decline from the resistance level of Rs 479, the stock appears to have resumed its intermediate-term uptrend that has been in place since its March low of Rs 182. Recently, the stock found support at significant support band of Rs 300-310 and started moving up. On July 20, the stock surged almost 8 per cent with above-average volume. This rally helped the stock penetrate its 21- and 50-day moving averages conclusively. Daily and weekly …

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