Uflex unlikely to see much of an upswing beyond 250: Rajat Bose
Uflex has gone up by 8%. It does not mean that it is going to actually clear the earlier high in November.
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| Rajat Bose of rajatkbose.com in a chat with ET Now talks about Uflex.
What is your take on Uflex?
Uflex had been a great performer until recent past. In the last 4 months leading up to early November, it actually shot up by about 300% plus. After this kind of a parabolic upswing, we have had a sharp downswing. In the year 2000 IT stocks showed similar kind of rise and similar kind of fall. After that there had been long periods of consolidation.
Today Uflex has gone up by 8%. It does not mean that it is going to actually clear the earlier high in November above say 300. So between 220 and 240, there would be adequate supply. Around that time if one is holding out, one should take profits because in the short term there would not be much of an upswing beyond 250
What is your take on Uflex?
Uflex had been a great performer until recent past. In the last 4 months leading up to early November, it actually shot up by about 300% plus. After this kind of a parabolic upswing, we have had a sharp downswing. In the year 2000 IT stocks showed similar kind of rise and similar kind of fall. After that there had been long periods of consolidation.
Today Uflex has gone up by 8%. It does not mean that it is going to actually clear the earlier high in November above say 300. So between 220 and 240, there would be adequate supply. Around that time if one is holding out, one should take profits because in the short term there would not be much of an upswing beyond 250
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