SKNL, Century Textile & Raymonds have pullback nature: Ashwani Gujral

Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in an interview with ET Now talks about textiles stocks.

Arvind and SKNL do you think 4%-4.5% is pretty much the move or could there be more?

These days expectations are raised because somebody goes to meet the government if nothing comes in then after two or three days worth of rally the stocks are likely to again fall off. So textile may be for the next couple of days it is okay but there has to be some movement, some news flow to bag this kind of a rally.

For SKNL, 3637 is a strong resistance. Probably Raymonds can get up to 440-445. Century Textile could head up 5% to 8% but these are more in the nature of pullbacks because these stocks got beaten up way too much in the last decline.