Limited downside in Trent: S Sharma

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Limited downside in Trent: S Sharma

Technical Analyst, Salil Sharma is of the view that there is a limited downside in Trent. It has now got very good support between the Rs 475-490 zone. On the upside it needs to break above Rs 545. If that happens, I think it has got a lot of upside in it.

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Excerpts from Markets Midday on CNBC-TV18 Watch the full show » ALSO READ See previous views by Salil Sharma See what other Experts & Brokerages are saying about Trent See messages about Trent Trent BSE | NSE 13/02/12 Are Mutual Funds betting on Trent?

Technical Analyst, Salil Sharma is of the view that there is a limited downside in Trent .

Sharma told CNBC-TV18, "If you compare Trent with the players in the retail space, all of them have fallen quite sharply. This is the one that has held on. It has now got very good support between the Rs 475-490 zone. On the upside it needs to break above Rs 545. If that happens, I think it has got a lot of upside in it. The downside also is restricted. It shouldn't go much below Rs 440. It is a cash rich company with a tie-up that it has entered into with Tesco. With real estate prices coming down and rentals also going down, they should see good times ahead."