Mohindar told CNBC-TV18, "Archies a momentum perspective but big problem on this counter would be the risk reward ratio. In the last 1-2 months the stock has climbed up a good 40-50%. So let us not forget the stocks run up to a strong degree which does not mean that the stock can't deliver further."
He further added, "If I am going to come in and buy at Rs 160-170 I have to be using stop loss at support levels which are way lower at Rs 145. So entering at these levels seems a bit risky to me. From a target perspective we hit it today. Rs 180 was the target we will be really looking at this stock so would be a fresh entrant here. If one is really holding on and wants to push his luck for more I would probably say that keep Rs 145 stop loss and look at Rs 205 target."
