Technical Analyst, Ashwani Gujral is of the view that Varun Shipping can go upto Rs 62-63.
Gujral told CNBC-TV18, "Shipping stocks tend to move against the market sometimes. For Varun Shipping, Rs 53 is a key level, once that is taken out, we could go upto levels of Rs 62-63. Even Mercator Lines looks good but over a period of time, if you see long-term these stocks have never gone anywhere. So that is ranged between Rs 50 and Rs 70. GE Shipping also has been ranged - so you are not getting wealth creation in these stocks, basically they will run up on a good day and on a bad day they will come back. Rs 258 to about Rs 330 are the range for GE Shipping.
