Hold Redington onto long positions with stoploss around 350-360: Shardul Kulkarni

Shardul Kulkarni, Sr. Technical Analyst, Angel Broking in a chat with ET Now talks about Redington.

Have you taken a look at Redington?

The stock looks positive at this juncture. The only concern is that the volumes are a little low. Average traded volumes are less than even 1 lakh shares on the BSE. The stock can move in any direction if the volumes emerge but presently just looking at the price, the stock is definitely moving upwards.

We can look at a target price of approximately around Rs. 425 to Rs. 430 in the next one month or so. The weekly charts are quite positive. One should hold onto long positions. Stop loss probably on the lower side should be at around 350 to 360 levels.