Friday 7 November 2008

Buy Gitanjali Gems above Rs 98: Mohindar

Rahul Mohindar of Viratechindia is of the view that one can buy Gitanjali Gems above Rs 98 or look at levels between Rs 70-75 in average.

Mohindar told CNBC-TV18, "In Gitanjali Gems I think for any kind of an upmove particularly on a medium to long-term basis to come in we need to now get pass about Rs 98. Keeping that in mind the stock has consolidated in the last six-seven days has been steady. I wouldn’t even say that’s a good sign whilst entire market was running 20-30% in several stocks. This was a stock which stayed steady. So the direct interpretation of that is probably there is still some more downside to it. So the best bet would be to buy in break above Rs 98 or look at levels between Rs 70-75 in average."

Disclosure: No personal holdings.

Source: Moneycontrol

Posted by Harsh at 07:26

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.