Bhambwani told CNBC-TV18, "As long as Alok Industries remains above Rs 19 level, I expect the uptrend to continue and potential on the upsides is upto Rs 30 levels. So you could very safely hold on to this stock for the near to medium term. Once it reaches Rs 30 we take a re-look as to whether this profit taking exerting downwards pressure or if there is a clear breakout with good volumes. If there is a breakout with good volumes, this stock probably is good for another Rs 10."
He further added, "For S Kumar I think Rs 38 would be the support resistance and the potential on the upside is Rs 54 and even that you couldn't hold on. The outlook seems to be improving but I am not particularly very gung hoe on this sector at this point in time and it's a trading call right now."
