Grindwell Norton 1st Target Achieved

Grindwell Norton has achieved our first target of 240 as set earlier and has made us quick returns. We entered at around 220 so at 240, its a neat 9% return in just one day!  You could have either offloaded all stock or a part of it and held on to the remaining part.

Our stop is around 204.  We'll have to see what tomorrow brings.

Chart source: in.reuters.com

Grindwell Norton Buy Signal

Grindwell Norton has formed divergence and was good to enter at 222 price levels.  Exit if the stock falls below 204.

The first target is around 240 and the second target is around 255 to offload some % of purchase.  The rest of the stock can be held on to with trailing stops.  This stock is already nearing the oversold range so can only be a good short term buy n sell.  Make sure to are proactive about updating your stop or you might make no money from this move.  But you might also want to hold on to some of this stock and not offload it all, considering that it is a subsidiary of Saint Gobain glass, the demand of which will only grow as long as the real estate sector enjoys a boom ride.

Chart source: in.reuters.com