Hold Tulip Telecom: N Jain

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Hold Tulip Telecom: N Jain

Nishant Jain, Director of Tradeswift Broking is of the view that one should hold on Tulip Telecom and accumulate new stock with a target of Rs 980 and keep a stoploss of about Rs 780.

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Excerpts from Midcap Radar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Nishant Jain See what other Experts & Brokerages are saying about Tulip Telecom See messages about Tulip Telecom Tulip Telecom BSE | NSE 28/05/12 Are Mutual Funds betting on Tulip Telecom?

Nishant Jain , Director of Tradeswift Broking is of the view that one should hold on Tulip Telecom .

Jain told CNBC-TV18, "Tulip Telecom had touched about Rs 800 in mid May and since then it has been consolidating sideways. Today the stock has successfully broken out of its sideways movement and a fresh resistance for the stock is about Rs 980 to Rs 1000 levels. So I guess one should hold on to the positions and accumulate new stock with a target of Rs 980 and keep a stoploss of about Rs 780."

Disclosure: It is safe to assume that analyst/his clients may have positions in the above stock.