Buy Mercator Lines at Rs 25-27: Gujral
Published on Thursday, February 5th, 2009 at 5:41 PMAuthor: admin (5507 Articles)
Technical Analyst, Ashwani Gujral is of the view that one can buy Mercator Lines at Rs 25-27.
“Mercator Lines finds support around Rs 25-27. The Baltic Dry Index over the last three days, I do not know how relevant that is but that’s what appear to move on all the shipping stocks. That’s move about 30%. So Mercator Lines becomes a buy around Rs 25 to Rs 27 and it has a range right up to Rs 38-40. So provided market remains stable this is a sort of range Mercator Line does.”
He further added, “Dena Bank in terms of the banking sector if you need a low risk, stable, PSU (Public Sector Undertaking) type of stock as these days PSU banking are considered much safer. Each time it comes down to about Rs 30 if you buy it, you will able to get a rise right up to Rs 45. The good thing about both these stocks is that the downside is low and people can make trading gains, they are not likely to collapse; an Rs 30 stock has only limited downside.”
Source : MoneyControl
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