According to Sanjeev Agarwal, CEO of Dynamix Research & Capital Management, it is not a good idea to hold Globus Spirits for a very long-term.
Agarwal told CNBC-TV18, “Technically Globus Spirits chart is looking better than most other stocks but it has already touched Rs 120 today. I don’t think it is a good idea holding it for a very long-term. Rs 120 is one level where you can cut down losses. Or you may get your prices around Rs 135-140 where you should exit.”
“So if you wish to exit around Rs 120 you can do so or if you wish to wait then currently the chart is looking positive. But overall equities will feel the pressure in 2013. So may be later it will also join the others,” Agarwal added.