Rahul Mohindar of viratechindia.com is of the view that in Alok Industries one can keep Rs 62-63 as a stoploss.
Mohindar told CNBC-TV18, "Alok Industries has been built very strong support up over the last 2-3 weeks at Rs 64 and this level is really being held quite well. So if one is already holding, keep a stoploss below Rs 64. If the investor would like to accumulate here is not a bad idea but the only reason why we would accumulate is because of strong support. I won’t say there’s a break out, I won’t say that there’s a clear buy signal on the key indicators but the reason one is buying here is clear support from a longer-term manner. But on the weekly and monthly front the stock can really do quite well for itself, give you an appreciation of more than 40-50% down a year. So from that perspective, I’m a buyer but I would clearly put a stoploss of something like Rs 62-63."
No comments:
Post a Comment