Reliance MediaWorks a difficult stock: Ashwani Gujral, Market Strategist

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now talks about Reliance MediaWorks.

What is the call on Reliance MediaWorks?

This stock tends to fall at very high volume. So I do not think high volume really matters here. But 125 is a support. It is still in a downtrend and on a rally probably could get up to 185-190. But it is an extremely difficult stock to trade or invest in because it tends to have very volatile moves.

If given an option to trade in and out of the ADAG stocks, would you avoid them or would you actually hunt for some names?

The idea has to be to buy them on bad days and whenever the market rallies, you tend to get out. But right now, they are not great stocks on the long side because they are extremely weak. Once they build some kind of strength, these could be stocks which could give you pretty sustainable type of upside because at some price, everything becomes valuable and they just need to now consolidate - not go up, not fall - for sometime before people get confidence on them because right now they are all over the place.