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K Seshadri
Gujarat Narmada (B670) is a reasonable choice for traders in the current market. Currently at Rs.19.25, one could go long on the scrip, hoping that the bull momentum, if it catches up further, can raise the stock price to Rs 25. In the very short term, it can rise just by a rupee.
All the technical indicators have signalled a buy here. The recent bottom was Rs 16.30, from which it leaped up. You can keep a stop loss at Rs.18. Frankly, there are very few scrips just now, where the in-built momentum is available. Another scrip where there is a momentum is Pentafour Software. The scrip could rise towards Rs 695. Both short and especially medium term investors should consider this. Place a stop loss at Rs 618.
Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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