Tata Communications behaves like real state stocks: Ashwani Gujral

In a chat with ET Now, Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks about Tata Communications.

Tata Communications on the charts, would you ride for more?

This behaves like a real estate stock more than a telecom stock each time there is some news on the land, it tends to move broadly range bound between 190 and 250. BEML again it has been in a sharp downtrend. It is probably trying to bottom out. In fact the risk is low, that’s probably the upside in this stock but on a good day, you could find it trading closer to 680 to about 700 but I would not buy this. This stock remains in a downtrend, weak stock.