GMDC May Come Down To Rs 170-160, Says Sudarshan Sukhani

[Lohit]

Technical analyst Sudarshan Sukhani of s2analytics.com stated that the stock of Gujarat Mineral Development Corporation (GMDC) may come down to Rs 170-160.

Mr. Sukhani said, "GMDC has made what will become a text book head and shoulder pattern. It is bearish. The chances are that it will go down and test Rs 170 or even Rs 160. A choppy market may not give you intraday trades. But somebody who is willing to take a position for a few days or even till the end of the settlement - that's a long way up still can look at GMDC. Buy puts or simply sell futures. I think this should work out."

"I think BEML won't go down. That's a safer statement to make because my perception is that the markets are in a short term downtrend. Even good stocks may not get enough momentum or traction to go up. But at least it's a safe bet. It's a buy on dips," Mr. Sukhani also said.

"Intraday if you see a consolidation and a breakout, if the markets are willing to go up then BEML is likely to be an outperformer. I have been tracking it for some time. It has been doing all the right things. I don't think it is going to go against the market as such but it will continue to outperform."

[salim]

i hold around 75 shares of GMDC, what should i do now

plz help

[Harman]

i hold around 75 shares of GMDC, what should i do now

plz help

at what price you bought these shares