Gruh Finance: Awaits result trigger

Gruh Finance surged 4 per cent on Thursday and 8 per cent for the week so far amid heavy trading volumes. Besides general mood, this rally could be in anticipation of positive financial performance for the quarter ended March 2014 that is scheduled on Friday. Technical daily indicators are hovering at overbought levels, signalling a correction. Any negative surprise on the result front can weaken Gruh Finance to ₹300 or ₹280 in the short term. However, strong numbers can boost the stock to ₹330 or ₹350.