Corporate Results of over 2500 companies Tuesday, October 26, 1999
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Think Tank
This week we focus on a complete analysis of the
diamond industry
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Atlas Copco -- Time to book profits 

K Seshadri  
It is time to book profit at the Atlas Copco counter. The scrip advanced to 279 surpassing the immediate previous high of 272.90. But the bearish mood of the closing session brought the scrip down. For those in profit, it is time to get out. And aggressive operators can also short sell in the counter. Give enough margin though for the scrip to try and raise again on Wednesday.

The right thing is to sell this at the top for the day. But it is difficult to say if the scrip will give you this benefit. It may not rise at all. In such a case, you have no choice but to take a risk. You may have to sell some more at the upper end. The stochastic indicator on the daily chart has been kissing its trigger line for some time now. But even the long term indicators have signalled a sell now. It is a reasonable trade.

Copyright © 1999 Indian Express Newspapers (Bombay) Ltd.

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