Uflex short term target of Rs 170: Mohindar

Mohindar told CNBC-TV18, “Uflex looking pretty negative on this. Despite even today's down move I think we have a visibility of testing levels like Rs 170 technically so that would be an immediate short term target. Now what would be really negative for the stock was to even go and breach Rs 170 and when we in situation where we have this kind of news flow there is always that possibility or risk and a break below Rs 170 severely affect the trend so to say and you could see this stock continuing to dips. So I think even now one is not late in moving out or exiting from the stock if you are holding it.”

He further added, “ Rana Sugars , I think first of all the sugar space looks pretty negative to me. Across the board even if you look at the leaders there is one nobility that you would see 7% to 10% down from current levels. If the market were to go down you have got to keep your eyes on sugar on the downside. Now Rana Sugars is obviously pretty much testing the near bottoms that it made and continues to look away negative to me. The question is we can’t really go short on this from here but if you are looking at the next 8% or 9% down I think that’s probably going to happen even from these levels in Rana Sugars.”