IVRCL Ltd: Steady Upmove Ahead

CMP: Rs.14.75

The scrip of IVRCL Ltd (Rs.14.75) is above its 21, 50, 100 DEMA/ DSMAs and Golden Cross had already taken place. It is also above its 150 DEMA. The scrip moved up yesterday with good volumes. Until Rs.16.20, there is hardly any HURDLE for the scrip to move up, if the market conditions remain steady. Still you can buy in Bulk and wait for the share price to race past Rs.20.

There were news in a section of the media that, stocks belonging to the capital goods, infrastructure and power sectors are likely to benefit from new policies to kickstart growth if the Narendra Modi-led BJP emerges victorious in the 2014 general elections as the market moves towards taking specific bets on sectors and stocks. 

Business groups considered close to the Gujarat chief minister such as the Ahmedabad-based Adani Group, and the Mumbai based Reliance Group and a number of infra and power companies are among those believed to be benefit from what the market sees as Narendra Modi's emphasis on job creation and infrastructure revival. CLICK HERE.