Wait for consolidation before buying SKS Microfinance: Ashwani Gujral
"It is probably a lot of short covering because it looks difficult to see how people can buy in a locked up kind of stock. Let's wait for some kind of a consolidation or correction before trying to get into a stock that has gone up 40%. "
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| Ashwani Gujral, Chief Market Strategist, ashwanigujral.com in an interview with ET Now talks about SKS Microfinance.
What is the call on SKS Microfinance?
It is probably a lot of short covering because it looks difficult to see how people can buy in a locked up kind of stock. Let's wait for some kind of a consolidation or correction before trying to get into a stock that has gone up 40%.
Things are not still clear, it is only a proposal that needs to be first kind of approved. So it is worthwhile trying to wait for it. Chances are the stock has bottomed out but there will be better entry levels.
What is the call on SKS Microfinance?
It is probably a lot of short covering because it looks difficult to see how people can buy in a locked up kind of stock. Let's wait for some kind of a consolidation or correction before trying to get into a stock that has gone up 40%.
Things are not still clear, it is only a proposal that needs to be first kind of approved. So it is worthwhile trying to wait for it. Chances are the stock has bottomed out but there will be better entry levels.
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