SESA GOA bounced back sharply yesterday from 289 – 290 odd level with pretty decent volumes. Technically the stock seems to have bottomed out 290 level as it has seen a very sharp runup on the rumors of cairn Vedanta deal getting called off. If rumor of cairn – Vedanta deal getting called off materializes then it should give big sentiment boost to Sesa Goa script as the company won’t have to shell out its cash which is estimated nearly $2 Billion.
Short term investors can buy the stock at 304 levels with a 4-5 day target of 320-325. Long term investors can enter with a price target of 340 in 1 month time.