Return
to Story Page
To print: Select File and then Print from your
browser's menu
Ashok Kumar
The undertone at the bourses has turned even more bearish with disturbing news like the escalation of firing on the Indo-Pak border, the continuous plunge of the Hang-Seng index and the stay on the lifting of US imposed sanctions taking its toll.
The euphoria that surrounded HLL's results has fizzled out making this scrip a potential short-sell candidate at a price level of around Rs 1695. ITC too looks very weak and could be short-sold if it touches the Rs 610 level.
Brittania's share price too has spurted sharply and merits short-selling at around the Rs 725 level, as this is the last week for it in the `No Delivery' zone.
Traders could consider picking up lower priced scrips like Global-Tele at Rs 90 and Tata Elxsi at Rs 40 as both have now moved into the trading zone on account of `No Delivery'. Quick trading on the bearish side is the prescription for the week. The undertone at the bourses has turned even more bearish with disturbing news like the escalation of firing on the Indo-Pak border, the continuous plunge of the Hang-Seng index and the stay on the lifting of US imposed sanctions taking its toll.
The euphoria that surrounded HLL's results has fizzled out making this scrip a potential short-sell candidate at a price level of around Rs 1695. ITC too looks very weak and could be short-sold if it touches the Rs 610 level.
Brittania's share price too has spurted sharply and merits short-selling at around the Rs 725 level, as this is the last week for it in the `No Delivery' zone.
Traders could consider picking up lower priced scrips like Global-Tele at Rs 90 and Tata Elxsi at Rs 40 as both have now moved into the trading zone on account of `No Delivery'. Quick trading on the bearish side is the prescription for the week.
Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
------------------------------------------------------------
This story was printed from Net Express located at http://www.expressindia.com. Net Express provides a portal to India, with news from The Indian Express and The Financial Express along with sites on travel and tourism, the entertainment industry, the power sector, the environment and much more.
------------------------------------------------------------