Gammon - One on the Move
Gammon has finally started to rally. The stock has breached two important levels at 38% and 50% quite convincingly. The stock looks next support would be at Rs. 465. The volumes that has supported this section of the rally is quite strong. I would hold the stock at these levels.
Given that the incremental money that can be made at this stock is limited for investors who would want to enter this stock at this time (as the next trigger would give only 5% of profits), if it does reach that level, I would wait for sometime till it breaches at Rs. 480 for some fresh exposure to the stock as the next level of gains would be at Rs. 575, an upside of more than 20%.
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