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Drumbeat: Ad Buzzaar
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Thursday, June 18, 1998
Further downslide in Cadbury's scrip unlikely
K Seshadri
Technicals have signalled a buy in the Cadbury counter. The scrip had moved in the range of Rs 327 to Rs 335. Earlier, it had slid down from Rs 417. The advantage in this scrip is that more than one indicator has turned positive. That protects you against the possibility of a further slide down. In any case, provide for a stop loss at Rs 285. The scrip might see a resistance at Rs 346. If this is cleared it would move up to Rs 374. The level of Rs 465 was the recent peak and Rs 407 a more reasonable high. Long term investors may reach this target.Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
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