Further upside seen in Voltas, says SP Tulsian

Tulsian told CNBC-TV18, “It was expected that ITC results will be good, but if you see the sequential, because I don’t think that even a sequential de-growth or maybe a marginal fall in the bottom-line as well as in the top-line can really be accepted by the market. On the bottom-line there has been a sequential fall and that is probably maybe seen as a slight or as a marginal negative by the market, otherwise overall I don’t think that there is any complaint for the results.”

He further added, “Voltas, I will draw my line as a trader, because as an investor if you really want to take a call then probably Rs 120-124, but as you have rightly said in the morning I said that swiftly it will move to about Rs 110, but honestly I did not expect it to cross Rs 100 today. Probably I thought that 9900 could be the barrier and market will accept its time to adjust this because of the technical factors and all that and could go to about Rs 110 in this series. But it has really swiftly moved. So as a trader or for the technical I will take this as Rs 110, but from a fundamental point of view it has further upside, can move to about Rs 120-124.”