Buy Rohit Ferro only if it sustains Rs 53 for sometime: Rajat Bose
I would watch out closely for this counter and then if it really shows promise, it would be a buy, but not immediately. We need to see whether the move sustains, follow on buying happens or not.
By 
| Updated:
| Updated: In a chat with ET Now, Rajat Bose, rajatkbose.com, shares his investment ideas.
What is the call on Rohit Ferro?
In November to February, it fell from Rs 65 to Rs 35, which was a downtrend. Otherwise, in June to September 2010, it was in a very flat kind of a range bound situation. And, again it is moving into that range situation. So, unless you see the stock getting beyond Rs 53 and sustaining above that, you do not see a signal of a clear intermediate uptrend. So, I would watch out closely for this counter and then if it really shows promise, it would be a buy but not immediately. We need to see whether the move sustains, follow on buying happens or not.
What is the call on Rohit Ferro?
In November to February, it fell from Rs 65 to Rs 35, which was a downtrend. Otherwise, in June to September 2010, it was in a very flat kind of a range bound situation. And, again it is moving into that range situation. So, unless you see the stock getting beyond Rs 53 and sustaining above that, you do not see a signal of a clear intermediate uptrend. So, I would watch out closely for this counter and then if it really shows promise, it would be a buy but not immediately. We need to see whether the move sustains, follow on buying happens or not.
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
