Jun 22, 2012, 06.28 PM | Source: CNBC-TV18
India Cement has good support around Rs 78, says SP Tulsian, sptulsian.com.
SP Tulsian (more)
CEO, sptulsian.com | Capital Expertise: Equity - Fundamental ,IPO
Tulsian told CNBC-TV18, “I will keep my negative stance on Century Textiles and JP Associates because if you see the quantum- and I do not think that the technical positions which we have seen in last one week or so has got unwound.”
He further added, “In case of ACC and Ambuja Cement we are seeing strong grip of either the short-term traders and this morning ACC was holding at about Rs 1,230-1,235 so maybe the short-term technical forces are trying to rule or maybe holding the damages not to allow to get extended in case of ACC and Ambuja Cement but that may not happen in case of JP Associates and Century Textiles. So maybe negative view on these two and India Cement maybe at Rs 78 which is seen to be a good support for the stock and the stock has been witnessing good buying for last week or so ahead of the CII order can also be considered for creating a long at those levels.”