If you look at Pipavav Shipyard stock, then it had run up from 50 to almost 120, giving a return of 240% in a year. However because of the news of private equity investors trying to sell their stake in pipavav shipyard, the stock has come down almost 40 rupees now and is trading around 80.

The stock looks bottomed out at these levels and is less likely to dip further. Pipavav has a huge support around levels of 80 and the day it went below 80, it bounced back to 82-83 the same day and is still trailing along those levels. Due to such news, the stock is bound to consolidate around those levels but if you look from a longer term perspective, then the stock looks really attractive and will give good returns in future. It is wise to get into the stock when it has bottomed out rather waiting for an up move and miss the rally.

Buy Pipavav Shipyard around levels of 80 and hold it for a long term to reap huge benefits.

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