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Thursday, May 27, 1999

Parke Davis -- Close to base line 

K Seshadri  
Parke Davis is close to its base support level of Rs 301, and therefore offers an attractive bargain for both the short term and long term investors. The scrip has attracted much volume and has moved down on Wednesday in the context of the overall market.

However, with limited downside risk, the scrip is bound to attract both short term and long investors on Thursday. It closed at Rs 321 after dipping to Rs 315. The stochastics are still in positive territory. Long term investors should have no hesitation in making an entry.

Videocon International: The scrip has posted a huge jump in volume to over 22.6 lakh. It closed above the previous day's opening level. The scrip has a good potential to go up to Rs 72 or even higher, if the volume and price pattern over the last four sessions are any indication.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.


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