We analyze here the gravitational collapse of directed null radiation in a
background with a constant potential such as the one produced by a star sys
tem such as a galaxy in which the collapsing object is immersed. Both naked
singularities and black holes are shown to be developing as the final outc
ome of the collapse. An interesting feature that emerges is that a part of
the naked singularity spectrum in the collapsing Vaidya region gets covered
in the corresponding dual-Vaidya region, which corresponds to the Vaidya d
irected null radiation sitting in a constant potential bath. The implicatio
ns of such a result towards the issue of stability of naked singularities a
re discussed.