Reliance Communications needs a lot of base building.: Ashwani Gujral, Market Strategist
There must be some rumour, some news which is coming which has led to this kind of short covering in Reliance Communications.
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| Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about Relaince Communications.
What is your take on Reliance Communications, it is 11.5% higher right now?
The stock is making new lows. It is probably a weak stock and there must be some rumour, some news which is coming which has led to this kind of short covering. I will call it short covering unless it can trade above levels of 150. The stock needs a lot of base building. So I do not think I would be too over excited about this move and certainly not get trapped long after this move.
What is your take on Reliance Communications, it is 11.5% higher right now?
The stock is making new lows. It is probably a weak stock and there must be some rumour, some news which is coming which has led to this kind of short covering. I will call it short covering unless it can trade above levels of 150. The stock needs a lot of base building. So I do not think I would be too over excited about this move and certainly not get trapped long after this move.
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