| |
Buy BILT, but keep stop lossat Rs 25-27
K Seshadri
Ballarpur Industries hit a low of Rs 21 on February 9; it has moved up since then to Rs 30. A look at the weekly chart suggests that the scrip could move up to Rs 35. It could also continue to move ahead towards Rs 50-Rs 60.But while that looks attractive, the question is what would happen if the market reverses its trend? In such a case, the scrip could come down to Rs 23.75, which is the base line. That is just Rs 7 down and you can always place a stop loss at Rs 27.50 or at Rs 25.50! Now, let us zero down to the daily picture. On Thursday, the price moved between Rs 32 and Rs 30.30. I suggest an entry at Rs 30-29. As we are aiming at Rs 35-50 move up, why split your hair! Mind your stop loss though! Copyright © 1998 Indian Express Newspapers (Bombay) Ltd.
|
 |
