Meanwhile, Jindal Saw Ltd is finding resistance to cross Rs.87. Therefore, the short term traders are suggested to book profits around Rs.86.50, in any intra-day bounce and wait for the stock to close above Rs.87.10, for taking fresh entry. However the long term investors can hold the scrip with a SL of Rs.81.70.
MRPL today touched Rs.53 and is now trading at Rs.51.40. The scrip should slowly move towards Rs.60-62, in the coming days.
Use every rise in Suzlon Energy Ltd (Rs.15.60), to exit the counter, till the situation becomes more fluid. With so much debt on the books and then selling of profit making overseas subsidiary, does not augur well for the company.
Accumulate Rohit Ferro Tech Ltd (Rs.7.80) on all declines for some super-duper returns in the short to medium term. Target: Rs.12.