Above Rs 123, Texmaco can touch Rs 147: Gujral

Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ashwani Gujral See what other Experts & Brokerages are saying about Texmaco See messages about Texmaco Texmaco BSE | NSE 10/02/12 Are Mutual Funds betting on Texmaco?

Technical Analyst, Ashwani Gujral is of the view that above Rs 123, Texmaco can touch Rs 147. 

Gujral told CNBC-TV18, "Railway stocks like Kalindee Rail , Texmaco, Titagarh Wagon , & BEML tend to peter out once the rail budget is out. So, one need to keep trailing stops. On Kalindee, the trailing stop is about Rs 205. If it can take out Rs 235, then probably Rs 285 will come. Texmaco, trailing stoploss is around Rs 96 and Rs 123 is a key level. If that gets taken out, Rs 147 comes back."

He further added, "Titagarh Wagons, keep a trailing stop at about Rs 410. It needs to get past Rs 450 to reach Rs 500. BEML, keep a trailing stop at about Rs 1,020 and if it can take its previous high of about Rs 1,160 then it can get up to Rs 1212. But basically once you have had this sort of run-up and the news is out, it is time to book profits."