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Accumulation on at Britannia counter
K Seshadri
MARCH 6: ACC is recovering, but would come up with a resistance at Rs 169. But it is a good trade technically. ABB is bouncing off from the bottom; appears to have reasonable potential. But the problem here is it has high volatility. Keep an eye on Amara Raja. Right now, it is tempting to put it on the accumulation list. But go about in very slow measure. Aptech looks weak despite a good stochastic positioning.Ashok Leyland is a case for slow accumulation. Asian Paint is likely to kick itself upstairs. Bajaj Auto is trying to hold its price line even on minuscule volume. Those who like risks and long term perspective should consider this now. Bank of Baroda has weakened and could move further down. On the other hand at the Bank of India, it may be time for bargain hunting as the downside room is limited., Ofcourse do pick up as low as you can. Do not touch Bharat Petro. There is no hurry, you will gain by waiting. Slow accumulation has started in the Britannia counter. Copyright © 2000 Indian Express Newspapers (Bombay) Ltd.
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