AkzoNobel a weak stock: Rajat Bose

Rajat Bose, rajatkbose.com, talks to ET Now on various stocks.

The details of the AkzoNobel merger of its subsidiaries into the parent company, the fact that FIIs are opposing it arguing that the valuation of those companies has been a little overdone. From a technical perspective, what does it look like as far as the AkzoNobel stock goes?

AkzoNobel might have gone up today but then what I see on the charts, 825 to about 840 is the range where a lot of supplies might come once again and unless this range is decisively crossed, you would not see much of a rise. In fact this stock had been weak even in the recent past when the market was moving up. It was falling for the last few trading sessions. So chances are that unless this range between 825 to about 840 that gets breached on the upside, that is taken out on the upside, you would not see any major movement. On the contrary if it were to fall below 790 once again, then it could get weakened substantially.