Exit ABG Shipyard around 250-260 range: Sanjeev Agarwal

Sanjeev Agarwal, Director, Dynamix Research and Capital Management in a conversation with ET Now talks about ABG Shipyard.

What about ABG Shipyard you think it has got some next to go further or you would sell it out at current levels?

I feel this stock is taking a support at 200-DMA but looking at the charts the pattern is not that positive that it can have a big move upward from here. Overall we are not very bullish on the market scenario as such and we have earlier given a call of the bearish scenario in 2010 where we feel the Nifty may come down below 4000 and so as around 3500.

So looking at these parameters I feel it will be a wise step to exit this stock somewhere around 250-260 range and if it goes below 200-DMA which is trading somewhere around 230 definitely the investor should be keeping a stop loss at that level.