ABG Shipyard can test Rs 315-320: Gujral

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ABG Shipyard can test Rs 315-320: Gujral

ABG Shipyard can test Rs 315-320, says Technical Analyst, Ashwani Gujral.

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Excerpts from Closing Bell on CNBC-TV18 Watch the full show » RELATED NEWS Go long in ABG Shipyard, Bharati Shipyard on dip: Sukhani Accumulate ABG Shipyard; target of Rs 354: Angel ABG Shipyard has target at Rs 330-340: Thacker ALSO READ See previous views by Ashwani Gujral See what other Experts & Brokerages are saying about ABG Shipyard See messages about ABG Shipyard ABG Shipyard BSE | NSE 30/05/12 Are Mutual Funds betting on ABG Shipyard?

ABG Shipyard can test Rs 315-320, says Technical Analyst, Ashwani Gujral .

Gujral told CNBC-TV18, "In this kind of market mood, nothing can outperform. They have had their run. I think ABG now is probably very close to support to Rs 250-255 - it is a good support out here, may stop out here and could try to retest Rs 315-320."

He further added, "For Bharati Shipyard , the support is around Rs 260. So maybe these stocks are going to move sideways between Rs 255 and Rs 260 and on the upside Rs 325-330 - so far no weakness but I think they have done their bit and in this kind of mood, probably they will consolidate as well."

ABG Shipyard closed at Rs 262.65, down Rs 9.85, or 3.61% with volumes of 425,427 shares. Currently it is 267.6% above the 52-week low of Rs 71.45.