Alok Industries likely to see selling pressure at 33-35: Rajat Bose
The problem with Alok Industries is that it initially shows good promise, then it actually falls in a big way.
By 
|
| Rajat Bose, of rajatkbose.com, in a chat with ET Now talks about Alok Industries.
What is your view on Alok Industries?
Alok Industries is one of the counters that we would all love to watch out. The problem with this is that it initially shows good promise, then it actually falls in a big way. From yesterday, it has started showing some traction on the upside but unless 29 is decisively broken by this, by decisively I mean at least two closes above that with good volumes, I do not think it will actually do that well.
Even if it were to do well, you will find 33-35 bringing in immense selling pressure in this. I always find other textile counters to be better bets compared to Alok.
What is your view on Alok Industries?
Alok Industries is one of the counters that we would all love to watch out. The problem with this is that it initially shows good promise, then it actually falls in a big way. From yesterday, it has started showing some traction on the upside but unless 29 is decisively broken by this, by decisively I mean at least two closes above that with good volumes, I do not think it will actually do that well.
Even if it were to do well, you will find 33-35 bringing in immense selling pressure in this. I always find other textile counters to be better bets compared to Alok.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
