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Indian Hotels -- Time to start accumulating
K Seshadri
It is time to start picking up Indian Hotels, gradually to build into your portfolio. The scrip dipped to 432 to spring back to 449 on a small volume of 4655 shares. It had earlier established a base line of 422. Therefore the risk on this scrip is minimal. The base line too has been established over a long time. On the upside, the scrip has a potential to reach Rs.599. On that count alone it makes good sense for long term investors and mutual funds.Right now, the market is under a spell of high volatility. Therefore there are not too many scrips where one could structure a transaction with surety. At such times, it makes ample sense to go for a scrip which has less downside risks and potential for an upmove to materialise. The time for this to happen may be two or three weeks, but then it makes sense to wait. Also, please remember, good scrips spurt suddenly on any fund buying. Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.
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