GAMMON INDIA LTD; UP 20% IN 3 WEEKS

GAMMON INDIA LTD : CMP 46.75

• On the upside, resistances at 50 followed by 57 and 63. A breakout above 63 levels could quickly take it to 79 levels where it faces a strong resistance.
• On the downside, supports at 45 followed by 42 and then a strong support at 39 odd levels. Market sentiment reversal could see the supports being tested but 39 is likely to hold in any case.
• Investors can buy at CMP and dips for a medium term target of about 63. A 12 month target of 88 is  possible provided Economic Macros are supportive.