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Hold REI Agro: Kapadia
REI Agro doesn’t look particularly exciting but the worst is over from a medium term point of view which might also possibly be a longer term bottom in play. So it’s a very clear hold, says Hemen Kapadia of chartpundit.com.
REI Agro doesn't look particularly exciting but the worst is over from a medium term point of view which might also possibly be a longer term bottom in play. So it's a very clear hold, says Hemen Kapadia of chartpundit.com.
Kapadia told CNBC-TV18, "REI Agro is deeply oversold. The worst is almost over. It's been a bad underperformer, a clear laggard but those days have passed us. It doesn't look particularly exciting but the worst is over from a medium term point of view which might also possibly be a longer term bottom in play. So it's a very clear hold, I am not sure it's a buy. Further upsides seems like a distinct possibility in terms of levels of Rs 28-Rs 30 and after that Rs 36 and Rs 41 are important resistance levels, a clear hold."
"Frankly speaking at least 3 months or so because we are sort of culminating what is possibly a one and a half year bear market. So at least a 3 month hold, ideally 6 month but then that would be more market specific but it is at least a 3 month hold."
