IVRCL still needs to bottom out: Ashwani Gujral, Market Strategist
Unless IVRCL can cross 110, do not think it really emerges out of its downtrend.
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| Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about IVRCL.
Can IVRCL see be more bounce back? Can it take it up all the way to the 85-90 levels or is that not possible?
The support here is closer to 60 and it has had a vertical fall from 140. Unless it can cross 110, I do not think it really emerges out of its downtrend.
Two or three days of upside can happen but 110 is quite far off. So these stocks still need to bottom out. Some positive news flow needs to come back, some strong hand buying must support these stocks. So far none of that is happening.
Can IVRCL see be more bounce back? Can it take it up all the way to the 85-90 levels or is that not possible?
The support here is closer to 60 and it has had a vertical fall from 140. Unless it can cross 110, I do not think it really emerges out of its downtrend.
Two or three days of upside can happen but 110 is quite far off. So these stocks still need to bottom out. Some positive news flow needs to come back, some strong hand buying must support these stocks. So far none of that is happening.
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