NIIT and Cadbury appear attractive at the current prices. NIIT had posted a high of Rs 2,280 during the month of March. From this level, it has shown a correction of almost 27 per cent and has formed a good support at Rs 1,650.Since the correction seems to be over and the sentiment has turned positive, the rally on this counter is expected to last for a long time. The position of the oscillators have also turned favourable.
Cadbury too is in equally sound position. The stock has strong support at Rs 560. Since the stock is in a major uptrend, the rally would be effortless. The volumes chart has also been hinting at a positive outlook.
Long position can be taken on both these counters with a stop loss of Rs 1,650 and Rs 560 respectively.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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