The choice of BSES for trading is based on its current risk-return profile. The scrip has moved down from Rs 166 to a low of Rs 143. The daily stochastic indicator is yet to signal a buy. This recommendation is in anticipation of that signal.On the downside, the scrip has a firm base at Rs 138. And may be it will not reach that low. Perhaps Rs 140 cannot be ruled out. In any case, given the present market, this scrip offers reasonable bet on risk-return profile. Go long now, and acquire more if it slips down further. There has been positive news on the fundamental basis as well.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.