150 has been strong resistance for Everest Kanto: Sanjeev Agarwal

Sanjeev Agarwal, Director, Dynamix Research and Capital Management in a conversation with ET Now talks about Everest Kanto.

Everest Kanto have you looked at this one and do you like it at all?

Everest Kanto has been making a bottoming out formation though the market was making topping out formation. It was doing exactly the reverse and earlier when the market was making peak so it has almost on a negative correlation with the market.

Right now I feel, 150 has been a very strong resistance for this and above it again it has a strong resistance somewhere around 160. So 150-160 band is a very strong point where it has to show all the strength to cross that if its not able to cross these two levels I think it will again go in a decline along with the market but right now it is looking little neutral. So at a higher level one can book profits but really you cannot give a call unless it breaksout.