Hathway Cable on minor relief rally: Technical Trends

Do you think in the current rally uptrend, Hathway Cable has got the legs to go up to 110-115, possibly higher or you would book profits?

Sudarshan Sukhani: No, the rally started today, so it is quite possible that till yesterday it was just falling and yesterday it stood still, so it is quite possible that even on the back of news upgrades, this stock can go up to 110, that’s quite easy for it to do but there is no rally. It is just a small relief rally.

How are the charts of PFC and REC looking at this point?

Sudarshan Sukhani: I am not tracking PFC. REC is suggesting that after a very big downtrend, it became half almost, maybe the stock is now bottoming out but there is no trade here because you cannot short it. It is too early to go and buy. There is an investment possibility, otherwise a very good stock to put in your portfolio.

Not good going at least for some of the auto ancillary stocks, Escorts, Motherson Sumi. Does it warrant more selling?

Sudarshan Sukhani: No, it does not. Escorts is a stock that has bounced back from its lows. It has probably completed its bear market. It is in an uptrend. Now if it is down today, I would not put much weight on it because the sectors today were different. They were primarily index movers and Escorts is not one of them, so that’s about all. Motherson Sumi is a very okay stock, it is not bad, it is not very good. There are other auto ancillaries, Escorts as well as Amtek India, the two of them are far better in terms of trading.