UTV Software may test Rs 780-800 levels, says Jatinder Sharma, Partner at Equity Strategists.
Sharma told CNBC TV18, "UTV Software has been in a clear uptrend for past so many months now. It has given a short-term breakout above Rs 670 and targets of about Rs 780 to Rs 800 levels. Most of the other counters are up today but NDTV chart is not showing much strength. TV Today looks slightly better but I don't know whether after the current up move one should enter into it or not because I believe that one should let the prices consolidate around current levels before taking a fresh view in this."
He further added, " Sun TV has fallen so much in one day and I believe it is seldom that you see v-shape recovery after such a strong fall and with such heavy volumes so I believe that stock could either consolidate and then again resume its downtrend or maybe it will go into a long-term consolidation maybe for about three-five months and then only one can play in Sun TV counter."
Disclosure: I don't have any exposure personally in any of the stocks I have spoken about.
