Sell Pantaloon Retail: Ashwani Gujral
Keep trailing stops and maybe continue your shorts, otherwise 30% profit is a decent profit but there is no chance of an upside move on Pantaloon for the moment.
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| Updated: Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in an interview with ET Now talks about Pantaloon Retail.
Pantaloon Retail, what does one do here?
Keep trailing stops and maybe continue your shorts, otherwise 30% profit is a decent profit but there is no chance of an upside move on Pantaloon for the moment. Today some of these “high beta” type stocks have done really poorly, so this maybe a fresh new downtrend in all of these stocks. In Pantaloon, a key level was 216. Once that has been taken out, you really do not have too much support till about 175-180, so chances are that these stocks, Sun TV, Pantaloon, ADAG, etc., will have further to go down.
Pantaloon Retail, what does one do here?
Keep trailing stops and maybe continue your shorts, otherwise 30% profit is a decent profit but there is no chance of an upside move on Pantaloon for the moment. Today some of these “high beta” type stocks have done really poorly, so this maybe a fresh new downtrend in all of these stocks. In Pantaloon, a key level was 216. Once that has been taken out, you really do not have too much support till about 175-180, so chances are that these stocks, Sun TV, Pantaloon, ADAG, etc., will have further to go down.
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