Can I hold Gujarat Industrial Power at current level? J Rajagopalan
Gujarat Industrial Power Company (Rs 61.4): GIPCL has recorded a very sharp rally since March this year that has taken the stock up from Rs 40 to Rs 73. The stock has already achieved its first short-term target that is at Rs 71.
A reversal is possible from this level. Investors with a short-to-medium term perspective can hold the stock with a stop at Rs 58. The other strategy can be to exit at current levels and re-enter on a strong break above Rs 74. Next target for the stock is Rs 90. The range for the rest of the year is likely to be between Rs 50 and Rs 90.
Source : Businessline 19-04-09
Our Recommendation :
Our Research Team Views :
Day High Low Rs.67-60 Monthly High Low Rs.42-67 6M H/L Rs. 40-67
This share has risen sharply more than 70% in the last 6 months. The following are the ideal ranges for buying and selling :
Buying Range : Rs.42-45 Selling Range : Rs. 60-67
Wait for the price to the buying range on correction in the stock markets.
Holding period : 12-18 months Returns expected : 100% plus
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