GVK POWER AND INFRA; ALERT

                                  CMP 17.4                                   BSE 18078

• The stock is currently flirting with  important support levels of 17.2 - 17.4 which also happens to be its 200 DMA.
• Both yesterday and today, it broke 17.4 on the downside intraday but closed above that level on both days.
• However, todays close at 17.4 was lower than yesterdays close 17.65 which is a bit of a concern for the short term.
• My take on the short term trend is that as long as 17.4 holds on a closing basis we should see levels of 20 in the next five trading sessions.
• The long term trend remains positive.
• In case the Scrip closes below 17.4 for a few trading sessions then we could drift a bit and on a bad day could see 15.5 levels. However, the chances of this are rather remote.
• Stay invested for a short term target of 20.

EARLIER POST ON GVK DTD 15/2/2012  SEE HERE