Limited downside in Trent: S Sharma

Technical Analyst, Salil Sharma is of the view that there is a limited downside in Trent.

Sharma told CNBC-TV18, "If you compare Trent with the players in the retail space, all of them have fallen quite sharply. This is the one that has held on. It has now got very good support between the Rs 475-490 zone. On the upside it needs to break above Rs 545. If that happens, I think it has got a lot of upside in it. The downside also is restricted. It shouldn’t go much below Rs 440. It is a cash rich company with a tie-up that it has entered into with Tesco. With real estate prices coming down and rentals also going down, they should see good times ahead."