Feb 27, 2013, 04.43 PM | Source: CNBC-TV18
Mithil Pradhan of Violet Arch Capital Advisors said he would recommend investor to exit Educomp Solutions at this point of time.
Mithil Pradhan (more)
Chief Strategist - Derivatives & Technicals, | Capital Expertise: Equity - Technical
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.