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Saturday, September 18, 1999
Carrier Aircon; bouncing off its support level
K Seshadri
Carrier Aircon has bounced off its trend support line. The scrip has moved down from Rs 200 to Rs 167. It has bounced off the downslope trend support line. In fact, it moved up to Rs 171 and closed higher than its day's low. The RSI indicator is in the oversold region. It has also come to a level, which is the lowest compared to its previous track record.Carrier Aircon is into airconditioning. With consumer white goods showing good demand, Carrier can look forward to a good demand. Its demand can come from both domestic consumers as well as industrial. With an industrial revival, it is reasonable to expect steady, if not an improved performance from this airconditioning major. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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