DERIVATIVE STOCK TIP 24 01 2011

GODREJ IND (CASH – Rs.183.55): The stock has formed a higher bottom in the daily charts and has consolidated between Rs.172 and Rs.186 for the past 7-8 trading sessions. Buying is advised above Rs.186 for a target of Rs.191 and Rs.196. Higher target of Rs.201-203 is also possible. Stop Loss of Rs.174 should be kept. The time frame of the trade would be around 8-9 trading sessions.