Smart Investment Ideas for Indian Investors
Rolta (Rs 72.1): Rolta India went in to a tailspin in March this year that ended at the trough of Rs 42. There has since been a strong 70 per cent gain from this trough.
The zone between Rs 35 and Rs 45 is also a strong long-term support zone for this stock and a sustainable trough could have been formed at Rs 42.
That said, the run-up from this trough has been very sharp and swift and a correction can materialise around Rs 71 or Rs 78 that drags it lower to Rs 55 or Rs 60 again.
Investors should wait for declines to buy the stock with a stop at Rs 50. Else wait for a weekly close above Rs 80 to buy the stock. Subsequent targets would be Rs 100 and Rs 150.