Stay invested in Punjab Tractors

Published on Fri, Mar 09, 2007 at 12:41 |  Source : Moneycontrol.com

Updated at Fri, Mar 09, 2007 at 14:30  

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Prakash Gaba, Technical Analyst

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Technical Analyst, Prakash Gaba is of the view that one can stay invested in Punjab Tractors .

Gaba told CNBC-TV18, "If you look at the structure, Punjab Tractors is trading between Rs 290 and Rs 340 levels; it is all time high has been Rs 352. So if someone wants to trade if it comes lower to around Rs 293-300 levels, one should buy it and if it goes to Rs 340, one should sell it. If it breaks around Rs 340 then the sky is the limit for this stock though Rs 352 is all time high. But I think that once it closes above Rs 340, it should go into a fresh momentum. So structurally, it is a positive chart, just that nowadays it is trading into sideways zone, it needs to cross the Rs 340 mark to go there. So stay invested and in every aspect, the investor will be the beneficiary."

  

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