Avoid GMR Infra, IVRCL Infra: Ashwani Gujral
"There is nothing much left on the charts on these stocks and basically the companies have broken levels of 2008 as well."
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| Updated: Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks to ET Now on various stocks.
What is your call on GMR Infra, IVRCL Infra?
There is nothing much left on the charts on these stocks and basically the companies have broken levels of 2008 as well. So chances are that GMR is now at all time low if I am not wrong and what can you say the support may be is at Rs 15-16 but certainly do not get into them thinking they are cheap because something is got to be wrong with the company that has gone from 130 to about 15 bucks so do not get into infrastructure thinking that these stocks have become extremely cheap.
IVRCL if we break 30 then it is back to probably 18 or 20 on IVRCL and these stocks will get hammered again if supports of 4700 get taken out decisively.
What is your call on GMR Infra, IVRCL Infra?
There is nothing much left on the charts on these stocks and basically the companies have broken levels of 2008 as well. So chances are that GMR is now at all time low if I am not wrong and what can you say the support may be is at Rs 15-16 but certainly do not get into them thinking they are cheap because something is got to be wrong with the company that has gone from 130 to about 15 bucks so do not get into infrastructure thinking that these stocks have become extremely cheap.
IVRCL if we break 30 then it is back to probably 18 or 20 on IVRCL and these stocks will get hammered again if supports of 4700 get taken out decisively.
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