You should be looking for getting out of the stock on rises, rather than looking for some upside targets which is unlikely to happen as per as your cost price.

Look what I said earlier about it http://www.mumbaibull.com/StockQueries-SEL%20MANUFACTURING%20COMPANY-Analysis.aspx

But as you are stuck already, you may try averaging around 54-55, bringing down your cost hence an earlier exit. Support area 54-55 is likely to hold.

May not be the right time. It has been a story which has actually disappointed.

Its better to stay with winners then losers unless they improve significantly. Technically nothing much is going to happen unless stock manages to close above 107-110.

Always better to buy such scrips on breakouts knowing that if its breaking out, then there is something improved significantly for sure.

With significant price rises and fall, one can make out the fundamentals status of a company because markets knows it all in advance.

Avoid till it happens.

For the time being you may consider exiting on rises. I have been telling people to sell of Fertilisers and Rail stocks pre-budget itself.

You may get through during the pre-budget rally in fertiliser stocks.