Avoid GVK, GMR: Ashwani Gujral
Both, GVK and GMR, have gotten so low that in terms of absolute values, a 50 paisa move is also a large move.
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| Updated: Ashwani Gujral, Fund Manager, Ashwanigujral.com, talks to ET Now on various stocks.
What are your views on GVK and GMR?
They have gotten so low in terms of absolute values at 50 paisa move is also a large move. GMR can get up to levels of 26 but will face fairly stiff resistance. It is unlikely that it will get past that because this appears to be a pullback rally and not any kind of great change in trend.
Similarly GVK I do not think it is going to get past 15.80-16 in a hurry so this seems to be a pullback rally. We need long time of consolidation and bottoming out in these stocks basically heavy debt, the same thing is happening with sugar. So all of these stocks need to go through large basing patterns before a sustainable uptrend is possible.
What are your views on GVK and GMR?
They have gotten so low in terms of absolute values at 50 paisa move is also a large move. GMR can get up to levels of 26 but will face fairly stiff resistance. It is unlikely that it will get past that because this appears to be a pullback rally and not any kind of great change in trend.
Similarly GVK I do not think it is going to get past 15.80-16 in a hurry so this seems to be a pullback rally. We need long time of consolidation and bottoming out in these stocks basically heavy debt, the same thing is happening with sugar. So all of these stocks need to go through large basing patterns before a sustainable uptrend is possible.
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