DONT MISS MICELEC

MIC electronics has announced that it would be investing 240 crores to enhance its production capacities. Yesterday press release was issued announcing launching 2 new products. 10 days average volume is NSE is 300K, today till now it is already 150K. Resistance lies at 41.25/= once it is taken out big wave of upmove is awaited upto 60 atleast. Lifetime high is placed at 208/= Annual Net profit has grown up by 400% in the last 4 years. from 15 crores to 64 crores. Following points are worth a note :- 50% of the lighting in the world will be taken over by LED technology by the year 2020. LED technology gives 50% - 60% savings in energy cost compared to conventional lights. Nichia Corporation, Japan, one of the world’s leading LED manufacturers has a long standing and special techno-commercial relationship with MIC. 10 days average volume - 418,765 Todays volume (upto 1.20 pm) - 626,448 - Up 150% Price up 5.74% Yesterdays close at 35.70 was above its 5 DMA. This is the first sign of strength for the stock. 10 DMA placed at 36.49 and 20 DMA at 37.90 Close above 38 will be confirmation of the strength to reach 40 levels.