Stock market analysts have maintained ‘buy’ rating on Entertainment Network stock with a short term target of Rs 191.

The investors can achieve the said target within a period of 4-5 weeks. So they are advised not to sell the stock before achieving this price target.

According to analysts, interested investors can purchase the stock on declines with a stop loss of Rs 163. If the stock market remains positive in the coming days, the next target for the stock will be above Rs 197.
 
The shares of the company, on Monday (Jan 19), closed at Rs 170, up 9.01%, on the Bombay Stock Exchange (BSE). Current EPS & P/E ratio stood at 2.50 and 68 respectively. The share price has seen a 52-week high of Rs 552 and a low of Rs 93 on BSE.

The company’s stock has been in a short-term correction since the January 6 peak at Rs 16.9. This decline stopped at Rs 14 last Thursday after retracing 61.8% of its previous up-move.

It is clear from the company’s charts that it has been on a medium-term uptrend since its all-time low of Rs 93, which was recorded during late November 2008.

From this low, the stock has been making higher peaks and higher troughs. On December 30, the stock gained 18% with an upward gap, penetrating its long-term down trendline (which was in place since December 2007 peak of Rs 700). The stock gained 9% followed by above average volume, resuming its medium-term upturn on January 19. It is trading well above the 21- and 50-day moving averages. The weekly relative strength index has got into the neutral area from the pessimistic sector.