LLoyds Steel closes strong at Rs 12.91 despite going into Trade-to-Trade from tomorrow

On Christmas Eve,under two weeks ago or better yet,just eight trading days ago,I had blogged on Lloyds Steel as below…..

Lloyds Steel @ Rs 9/10…Turnaround from Treachery !?

……and asked you to watch out for it in 2010……It’s been hitting many 5% upper circuits the past few trading days…and this has led it to be shifted tomorrow to Trade-to-Trade Settlement from tomorrow…this essentially means no intra-day trading is allowed…all transactions have to be settled by Delivery

……Despite this, Lloyds Steel continued to show ,both, Volume and Price Strength yesterday and more importantly today….Indications are that it should rise further in the days to come

Next target range….Rs 16 to Rs 18

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