Avoid Dredging Corporation: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Fund Manager, Ashwanigujral.com, shares his views on various stocks.

How would you position yourself in the PSU space?

These stocks just tend to move up on news flow. Dredging seems to be showing that some news flow is expected, if we can get pass 320, chances are that you will get fairly close to levels of 390-395. The volume on this is generally on any given day is low which means closer to 35,000-40000 shares which is not enough to have a good handle on the technicals of any stock.

So I would avoid trying to trade this on a technical basis but it seems fairly beaten up and 200-220 has been a historical support. It is not too much away from there, so if you can hold on for long periods of time and hope for some government policy to change then may be it is a good stock.