GVK Power . near break out!

The Nifty opened above the resistance level indicated on Friday as China let its Yuan appreciate against the dollar. . . The world markets seems to have made a U turn last week and this was clearly visible once the 5150 level weas broken upwards. .

I am not suprised by the rise, but I am surely surprised by the speed of the rise... Intraday traders (who have attended my workshops) surely would have got nice returns today. . And DLF suggested here at Rs 266 is almost near my second target (Rs 300)

Well,GVK Power was in news today as it gave a huge order to L&T.



The scrip has been witnessing some volume build up recently and I expect that a break above Rs 46 should give an upmove towards Rs 54 - 58 in medium term.

If you buy on break out, keep a stoploss near Rs 42/-

I was watching various midcap scrips today which seem to be readying for upmove in coming settlement. May be we will discuss a couple of them here....

Happy Trading

CA Rajiv D Khatlawala
www.investogyan.com