Wait and watch Kingfisher stock: Rajat Bose

Rajat Bose, rajatkbose.com in a chat with ET Now gives his views on Kingfisher stock

ET Now: What is your call on Kingfisher Airlines?

Rajat Bose: Technically speaking, it is showing marginal weakness since it is trading below 25. It is surprising that the stock holding out inspite of all the adverse news against the company.

This should be interpreted as some kind of a technical strength for the stock. If the stock does not fall below 22.50 anytime soon, then there might be some recovery happening in KFA stock.

I really wonder what traders are thinking when they are holding on to the Kingfisher stock. Do they have something up in their sleeves, so they are holding the stock at these levels? Generally, this kind of resilience is seen just before a rally.

I am not trying to outguess what the traders are going to do. If it crosses 25.10 to 25.25 then expect the rally to happen else it may consolidate at current levels.