Avoid Videocon Industries: Ashwani Gujral
The problem with Videocon Industries is that it is that one of those telecom stocks and each time there is some news, it tends to move in a volatile fashion but overall.
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| Updated: In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks about Videocon Industries.
What is the call on Videocon Industries?
The problem with Videocon Industries is that it is that one of those telecom stocks and each time there is some news, it tends to move in a volatile fashion but overall, 190 was a key support here and once it is broken down below that, it has really opened up downside targets of up to 155-160. So really it was a choppy stock earlier. Now it is beginning to break down, so best avoidable.
What is the call on Videocon Industries?
The problem with Videocon Industries is that it is that one of those telecom stocks and each time there is some news, it tends to move in a volatile fashion but overall, 190 was a key support here and once it is broken down below that, it has really opened up downside targets of up to 155-160. So really it was a choppy stock earlier. Now it is beginning to break down, so best avoidable.
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