Today my recommended Jindal Saw Ltd touched Rs.85.30 and is currently trading at around Rs.84.30. The traders can book some profits and can wait for the scrip to clear Rs.85-86 ranges before taking fresh entry. However, long term investors can continue to add the scrip in all declines, keeping a strong SL of Rs.79.
Rohit Ferro Tech Ltd (Rs.8.65) is currently consolidating at around Rs.8.60--8.90 ranges, after a swift rally. The government is coming up with a slew of measures to protect the domestic steel and ferro-alloys sector and hence in any case the scrip will move up, in the coming days. Besides, there are lot of positive developments taking place in the company including the sale of one of this plants in Odisa (Orissa) to reduce debt. When a person is getting gold at the price of brass, then he/she should purchase it, isn't it?