Titan Industries is likely to trade in Rs 180- 210 range, says SP Tulsian, sptulsian.com.
Tulsian told CNBC-TV18, "I don't think that Titan Industries can really fall below Rs 180 though it has been now ruling below Rs 200 but the moment it goes to those levels, probably the large investors those who are already invested in the stocks again comes back and in fact we have see that happening also in December quarter they have increased their stake and that is acting as a big support to the stock at Rs 180."
He further added, "If one take a call on all the defensive stocks, Titan also used to earlier fall in that category along with Hindustan Unilever or ITC , people have been taking a shift because I don't think that this is a time to remain invested in the defensives. That's a reason for also the IT stocks languishing or probably moving in a range for whole of the January. The shift has been picking in the other sectors which are giving very good returns. So taking that into account I don't think that it can really fall below Rs 180 but yes, it will be very difficult for the stock to move beyond Rs 210 where we keep sellings coming back those who have been stuck at the higher level. So probably a range of Rs 180-210 for the next couple of months on Titan."
