http://www.thehindubusinessline.com/iw/2010/05/30/stories/2010053050150800.htm
What is the long-term outlook of Godrej Industries bought at Rs 169? Rajesh Mishra Godrej Industries (Rs 149.5): After a 36 per cent retracement of the stock's previous downtrend (from December 2007 peak of Rs 504 to November 2008 low of Rs 46), it encountered a resistance at around Rs 220 in October 2009. Inability to exceed this level in December 2009 has strengthened the resistance from a long-term point of view. Investors with long-term perspective can hold the stock with stop-loss at Rs 112 and with initial target of Rs 185 and next target of Rs 220. Since December 2009 the stock has been on a medium-term downtrend and is just above key support zone of Rs 140-145. A dive below this support zone will add to the selling pressure and the stock can find support at Rs 120 in the medium-term. Immediate resistances are at Rs 165 and Rs 185. -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
