Wait and watch for Hindalco: CK Narayan

In a chat with ET Now, CK Narayan, President Treasury, Sharyans Resources, talks about Hindalco.

A quick word on Hindalco?

At the price that it is trading at 195, it actually bang in the middle of the range between 185-205-210, so it is really a touch and go as to which way it would actually lean from the current levels. You do not have support at 180-185 but neither do you have resistance, it is still about 205-210, so I do not really want to take a bet on that right now. I also would recommend that traders leave it alone for the moment until there is some clarity, which way it wants to go. Having said that, it is very clear that there is a Rs 10 room on either side. Now if such a thing is meaningful to somebody, they could probably take a view and probably take a position but at the moment, I am fairly neutral.