Hero Honda is in range: CK Narayan, Sharyans Resources

CK Narayan, President Treasury, Sharyans Resources in an interview with ET Now, talks about Hero Honda


What is the call on Hero Honda?

Hero Honda has been in a range for quite a while and looks set to continue within that range. It displays very little weakness as well as very little strength at the higher end also. Most of the holders are pretty contend to wait it out, most of the news has got played out. Now this is the new element but it is a good market to enter but it is also a highly competitive market. I do not think the market is going to really be charged up with this news of Hero moving into the three wheeler segment. Range section will actually continue. It really does not say either way for traders. They need to look at supports to buy into and then it reaches somewhere near the resistance. They need to abandon it too. Range trading at best and hold for investors.