Monday 10 November 2008

Neyveli Lignite can test Rs 90: Gujral

Technical Analyst, Ashwani Gujral is of the view that above Rs 68 Neyveli Lignite Corporation can test Rs 90.

Gujral told CNBC-TV18, "Neyveli Lignite got support around Rs 56; if it can move above Rs 68 then levels of about Rs 90 are possible. These are historical levels for Neyveli Lignite and around these levels whenever people have bought they have made some money."

He further added, "Ashok Leyland is sort of breaking down. If it breaks down below Rs 16 then levels of even Rs 12 are possible. In case Rs 16 holds up then you could get a rally back up to about Rs 20 but people need to exit from this counter, this is not good for going long."

Source: Moneycontrol

Posted by Harsh at 07:39

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