The scrip lost marginal ground and moved sideways yesterday. Continue to hold on to longs with stop at 950. For the scrip to break-out, it will have to go past the 1055 level today upon which fresh longs can be considered. The scrip recovered yesterday and closed on a positive note. Tighten stop to 725 and look for a target around the 850 level.
Investors can look for taking positions in the counter at current levels.
Emerck The scrip moved sideways and closed with little change in values. Long term investors can continue to take long positions at current levels while short investors should wait for a break above the 700 level before taking a position. The scrip disappointed yesterday by failing to break its resistance at the 540 level and closed on a weak note. We shall wait for the scrip to resume its upmove before taking a position. The scrip has had a meteoric rise since December and has doubled from its value of around 32 in December.