Since taking support at ₹107 in early May, Gujarat Apollo Industries has been on a short-term uptrend. It has surged 23 per cent this month. Ahead of its FY14 results due on Saturday, the stock is testing a key resistance at ₹140. A positive earnings surprise can break this barrier and take it northwards to ₹150 and then to ₹158. Any disappointment can pull down the stock, which can then breach its immediate support at ₹125 and fall to ₹115 or even ₹106 in the short term.
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.