>> Friday, July 24, 2009
Buy Welspun Gujarat for target of Rs 215: India Infoline
India Infoline has advised traders to buy Welspun Gujarat for target of
Rs 215.“On Wednesday, Welspun Gujarat bounced sharply from a low of Rs 193 on decent volumes. It faces a serious resistance at Rs 214-215 levels and should have a minimum upside till that level. If it breaks above the levels of Rs 215, it could rise till Rs 230 in the short term. Maintain a stop loss of Rs 192 and go long. However, traders need to be prepared to face extreme volatility in the stock. We expect the stock to advance after it gave a close above its downward sloping trendline,” said the technical note.