Thermax could see levels of 1000-1050: Ashwani Gujral, Market Strategist
Capital goods sector is making a strong come back.
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| Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in a chat with ET Now talks about Thermax.
How is Thermax looking on the charts? Also would you make an investment into any of the three oil marketing companies?
I am bullish on crude. So probably oil marketing is not a good idea but capital goods have come back. Thermax has good support around 820 and once it can get past 900, we could see levels of even 1000-1050 on Thermax. Capital goods is coming back strongly. BHEL has made that first move. So I expect that lower down into the mid caps, some of that good cheer could go through.
But overall, in oil marketing, the best stock out there is probably BPCL. On declines towards 650, people can try to buy it. But unless you are expecting oil to come back to 75, I do not think you will make any serious money on those stocks.
How is Thermax looking on the charts? Also would you make an investment into any of the three oil marketing companies?
I am bullish on crude. So probably oil marketing is not a good idea but capital goods have come back. Thermax has good support around 820 and once it can get past 900, we could see levels of even 1000-1050 on Thermax. Capital goods is coming back strongly. BHEL has made that first move. So I expect that lower down into the mid caps, some of that good cheer could go through.
But overall, in oil marketing, the best stock out there is probably BPCL. On declines towards 650, people can try to buy it. But unless you are expecting oil to come back to 75, I do not think you will make any serious money on those stocks.
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