Madhucon opinion

Madhucon is a fundamentally good script, but it is fully priced at 147-149. It has strong support at 143, but it also has a strong resistance at 165. On charts, it has been in a cyclical pattern between 147 and 163 for the last 4 months (one of the evidences of being fully priced). I would say that you book a little loss on every bounce backs and reduce your positions, since I do not see it crossing 165 in recent future of next 2-3 months.

On Sun, Oct 3, 2010 at 10:13 PM, ____ wrote:

Dear Sir, I am having 200 shares of Madhucon Projects @160/-.  Should I hold and for what period or should I exit in loss.