Wait and watch for Gitanjali Gems: Ashwani Gujral
"Suddenly nobody wants to touch these stocks. So from lower levels, you will find these sharp rallies and even if something goes up 50% from the lows..."
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| Updated: Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, talks to ET Now on various stocks.
What is the call on Gitanjali Gems and Hanung Toys?
Gitanjali Gems has broken out to fresh highs and chances are it should continue to move higher given the festive season and Hanung Toys again the stock fell 75% maybe because of valid reasons maybe not but chances are that we could slowly head up to first 130 and then probably even to levels of about 150.
As the market traders above 5100, a lot of these beaten up stocks are now suddenly waking up because when markets fall, the way they have fallen volumes dry up.
Suddenly nobody wants to touch these stocks. So from lower levels, you will find these sharp rallies and even if something goes up 50% from the lows, Rs 100 stock becoming Rs 150 and it fell from 400, you are really not recovering all that much although the percentage gains will be large.
What is the call on Gitanjali Gems and Hanung Toys?
Gitanjali Gems has broken out to fresh highs and chances are it should continue to move higher given the festive season and Hanung Toys again the stock fell 75% maybe because of valid reasons maybe not but chances are that we could slowly head up to first 130 and then probably even to levels of about 150.
As the market traders above 5100, a lot of these beaten up stocks are now suddenly waking up because when markets fall, the way they have fallen volumes dry up.
Suddenly nobody wants to touch these stocks. So from lower levels, you will find these sharp rallies and even if something goes up 50% from the lows, Rs 100 stock becoming Rs 150 and it fell from 400, you are really not recovering all that much although the percentage gains will be large.
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