Gayatri Projects trading in think water right now: Sharyans Resources

In a chat with ET Now, CK Narayan, President Treasury, Sharyans Resources, shares his stock ideas.

What is your take on Gayatri Projects?

Gayatri Projects is trading in pretty thin water right now. It is down to the level which is the limit for a retracement within a bullish phase of the trend. If it were to crack below Rs 210, it will probably lose it. So, it is a make or break time on the technical side as well. May be if they are successful in raising funds and seeing better times ahead, it would probably translate into something better on the charts. It is not too bad, but it is not very good either. The brighter side is that the prices have drop down into support zones, and some positive reaction to some positive news should be something that holders should at least look forward to. If it is seen, then fresh entries can be made.