Gammon India

Gammon India has moved above the 200 day EMA after october 2010 which is nearly 3 years, the break out is indicating that the stock is comming out of hibernation and it has chances of moving higher from current levels. The minimum retracement of fibonacci is comming to around 74 levels which is substantilly up from current levels of 18. It has also moved above 200 day EMA came down and took support at 200 day EMA and then now started to move up which is perfect technical set up and we can expect good movement from current levels. My personal view is that we can easily double from current level. what ever may be the case the stop loss should be any weekly close below 200 day EMA.

M.Mahidar Sri
Trend is Friend.