If crossed Rs 413, Pantaloon can rise further: Mithil Pradhan

In a chat with ET Now, Mithil Pradhan, market analyst, talks about the outlook of Pantaloon Retail ahead of its results declaration.

Do you like the retail space, particularly Pantaloon ahead of results, would this be a trade?

Pantaloon Retail has been into a sideways move for a very long time. This stock could be making a transition from a bull market sideways movement to a bear market sideways movement. If it manages to cross and close above Rs 413, the stock is likely to do much better. As long as it stays below this level of Rs 413 for the next few sessions, there could be a situation where the stock could drop in the immediate short term.