For Nalco, try to go short on rallies: Ashwani Gujral
Even in a pullback it is unlikely that you will get much past 60-61.
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| Updated: Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks to ET Now about Nalco.
NALCO 4.5 higher what is happening here, what do you do here?
That has kind of gone off the data little bit but NALCO it is at Rs. 50 stock. NALCO it has been making this base around 48 to about 51. It has become so small in value that these 5%-6% moves will happen often but we need to get past these 56 kind of levels to have some kind of a sustained upside. Even in a pullback it is unlikely that you will get much past 60-61 so try to go short on rallies but it is a much better trade to short something like JSW or Hindalco. This one is a quite type stock fairly low on volume so I guess this is still consolidating a bit while the others are falling.
NALCO 4.5 higher what is happening here, what do you do here?
That has kind of gone off the data little bit but NALCO it is at Rs. 50 stock. NALCO it has been making this base around 48 to about 51. It has become so small in value that these 5%-6% moves will happen often but we need to get past these 56 kind of levels to have some kind of a sustained upside. Even in a pullback it is unlikely that you will get much past 60-61 so try to go short on rallies but it is a much better trade to short something like JSW or Hindalco. This one is a quite type stock fairly low on volume so I guess this is still consolidating a bit while the others are falling.
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