RESPONSE TO READER'S QUERY: @MATHEW 9/9/2011; JYOTHY LABS

Purely on TECHNICALS, the Stock has a strong support in the 160-165 zone. The Price Charts' structure however does not look positive and the Stock could well languish at these levels for some time. In case of any upmove there is a major supply zone around 201 levels. A sustainable upmove is possible only if the Stock decisively breaks 210 levels on the upside.

Looking briefly at FUNDAMENTALS, the Stocks' Corporate peformance seems to have plateaued off in the last couple of Quarters; clear cut growth visibility is not very evident. Having said that it is also true that the Brands 'ujala' and allied are strong  and there could be an additional kicker from the Henkel stable to boost performance later this year.

So the Stock seems to have bottomed out at 163 odd levels but the upside move may be some time in coming. Since you bought the Scrip at 200 and if you do not want to book out now, you could hold for another 6 months perhaps to watch how things pan out fundamentally or you could consider switching into something like an ITC or NESTLE for the long term. All the best.