50 is a good stop loss for S Kumars: Ashwani Gujral, Market Strategist

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, for his stock recommendation, in a chat with ET Now talks about textile stocks.

Talking about textile stocks, have you looked at the charts of any? Is there anything that has caught your eye?

Raymond has support around 255. It can run up to levels of 330-340 but people should not become over excited on these mid-caps because they will do well once the market really picks up momentum.

Currently they will be up 2 days then 2 days down, then 2 days flat. If you are planning to hold S Kumars for sometime, then 50 is a good stop loss for you and you can carry it till the previous highs of 65 and then probably levels of 80. But they will not trend every day because market is falling in a tight range.