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Tuesday, August 17, 1999
Gujarat Gas seems a long-term buy
K Seshadri
A Morning Star has arisen at Gujarat Gas. This indicator in Japanese candle stick charting arises based on three day's price behaviour. The price pierced through the Rs 415 level posted last Thursday. Volume too has risen to Rs.8.55 crore. Another morning star had risen earlier. So, now we have two such stars strengthening the potential for an upside move.The candlestick pattern has appeared at the bottom level of the price and has therefore higher weightage. The scrip had earlier scaled over Rs 460. Quite likely it will ride its way back up. Both the RSI and other long term indicators have signalled a buy. British Gas has a shareholding here. It is an ideal choice for both short and long term investors. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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