Technical Analysts have suggested investors to buy Pioneer Embroideries as it is a good stock for intraday dealings.

Investors can purchase Pioneer Embroideries stock at around Rs 177 to achieve a target of Rs 208-214. The stock has performed brilliantly in yesterday’s weak market. If the stock market declines, investors should leave the stock.

Pioneer Embroideries Ltd has informed BSE that the company has signed up a development contract with Sunteck Realty & Infrastructure Ltd, for expansion of its property, located at Hakoba Compound, Western Express Highway, Borivali (East), Mumbai.

For intraday trading the stop loss should be Rs 174. Yesterday, shares of the company gained Rs 7, or 3.99%, to settle at Rs 182.4. The total volume of shares traded was 124,230 at the BSE. The 52-week high of the stock was Rs 315 on BSE.

Pioneer Embroideries started its operation in 1991 as a producer and exporter of embroidery and torchon/crochet laces. It is also the proprietor of the `Hakoba` trade name.

The company has more than 30,000 designes in its library. Its product list consists of braid trims, embroidered fabric, Schiffli AO embroidery with cording, AO embroidery with cording, chemical allover gupuire etc.