Mithil Pradhan of Violet Arch Capital Advisors said he would recommend investor to exit Educomp Solutions at this point of time.
Pradhan told CNBC-TV18, “As a matter of fact, I think the entire education sector is not doing well at all. If you look at NIIT Technologies, Core Education, these are all disastrous stocks. As far as Educomp Solutions is concerned, I was looking at the area of Rs 145, very close to where this investor has bought this stock. However, this Rs 145 area which looked like a minor support did not prove to be that good as a support and it has broken below that.”
”As far as I see it, the decline has completely not ended. I would recommend the investor to exit this particular stock at this point of time and look at other sectors rather than education and training which is overall as a sector going down. So I do not think it makes sense to hold this stock at this point of time,” Pradhan added.