Sundaram Clayton heading towards Rs 250: Gujral

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Sundaram Clayton heading towards Rs 250: Gujral

Sundaram Clayton corrected quite a bit but today the kind of first movement after many days. So probably it is heading back towards Rs 250. Beyond that we could see levels of Rs 290, says Technical Analyst, Ashwani Gujral.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Ashwani Gujral See what other Experts & Brokerages are saying about Sundaram-Clayto See messages about Sundaram-Clayto Sundaram-Clayto BSE | NSE 31/05/12 Are Mutual Funds betting on Sundaram-Clayto?

Sundaram Clayton corrected quite a bit but today the kind of first movement after many days. So probably it is heading back towards Rs 250. Beyond that we could see levels of Rs 290, says Technical Analyst, Ashwani Gujral.

Gujral told CNBC-TV18, "Sundaram Clayton corrected quite a bit but today the kind of first movement after many days. So probably it is heading back towards Rs 250. Beyond that we could see levels of Rs 290. But this is a good trending stock which has corrected about 15-20%, so its good to get in."

Sundaram-Clayton touched an intraday high of Rs 240 and an intraday low of Rs 211.95. At 15:25 hrs the share was quoting at Rs 217.70, up Rs 6.20, or 2.93%. It was trading with volumes of 444,673 shares. Yesterday the share closed down 1.63% or Rs 3.50 at Rs 211.50.