These two have also been in the list and have holding in Bombay Dyeing.
Bombay Dyeing has been beaten down since April 1 where it closed at 369 after a 380+ intra day high. It was down at about 300 in recent days and has been jumping around ever since, with at times big volumes.
Today it closed at 325.95 with intraday high of 329.95. Now, 330 is its 50 DMA, and it is above its 200 and 20 DMA.
As today's volumes were big, this scrip could well be staging a come back. Its results were not liked by the market despite a good divident, has large real estate holdings, part of which are on the block to over ride some financial difficulties. It also has plans for revamped retailing, and there was some news of some foreign collaboration, I can't seem to remember exactly what. It's a premier textile company, and obviously has investers' faith, though there was profit booking at every rise today. You may want to observe this scrip in the coming days. Tends to jump many Rupees while in rally, unlike the painstaking movement of Arvind and Alok!
Gammon India is in major construction and civil contracting. Following the stock split at 1236, and the new price of about 260, it has been range bound
over the last few weeks and has once tried to break 301. Today it again gave a breakout closing at 296.80 while again trying to charge 301 level intraday with ok volumes. Obviously has resistence around 305, and at a higher close than 305, could get into a great rally. Watch this scrip.
Could the seniors comment....Traderji, please?
Thanks.
Bombay Dyeing has been beaten down since April 1 where it closed at 369 after a 380+ intra day high. It was down at about 300 in recent days and has been jumping around ever since, with at times big volumes.
Today it closed at 325.95 with intraday high of 329.95. Now, 330 is its 50 DMA, and it is above its 200 and 20 DMA.
As today's volumes were big, this scrip could well be staging a come back. Its results were not liked by the market despite a good divident, has large real estate holdings, part of which are on the block to over ride some financial difficulties. It also has plans for revamped retailing, and there was some news of some foreign collaboration, I can't seem to remember exactly what. It's a premier textile company, and obviously has investers' faith, though there was profit booking at every rise today. You may want to observe this scrip in the coming days. Tends to jump many Rupees while in rally, unlike the painstaking movement of Arvind and Alok!
Gammon India is in major construction and civil contracting. Following the stock split at 1236, and the new price of about 260, it has been range bound
over the last few weeks and has once tried to break 301. Today it again gave a breakout closing at 296.80 while again trying to charge 301 level intraday with ok volumes. Obviously has resistence around 305, and at a higher close than 305, could get into a great rally. Watch this scrip.
Could the seniors comment....Traderji, please?
Thanks.
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