What is the outlook for Spice Jet bought at Rs 65?
Clarence Joel Spice Jet (Rs 67.3): The stock (formerly known as Modi Luft) has seen a sudden flare-up in the recent weeks. The share price is, however, in a short-term corrective phase. It can drop to the Rs 62-63 band and resume the earlier upward subsequently. Remain invested with a stop-loss at Rs 61 as the stock is likely to bounce back to the Rs 78-80 range on the completion of the expected short-term downtrend. Based on your recommendation, I bought SRF at Rs 153. It is ruling weak since then despite the good financial performance reported recently. Please inform whether the stock will rise or should I sell it now. A. Veerabahu SRF (Rs 136.3): The outlook expressed a couple of weeks ago is still valid. The recent price action has not negated the possibility of a rally to the Rs 165-170 range. This view would be invalidated only on a close below the stop-loss level of Rs 124. Remain invested with a stop-loss at Rs 124. Is this the right time to buy Balrampur Chini? Amalendu Barik
