Lanco Infratech can see 4-5% upmove: Kulkarni

Shardul Kulkarni, Angel Broking is of the view that Lanco Infratech can see 4-5% upmove.

Kulkarni told CNBC-TV18, “Lanco Infratech stock has corrected over the last few trading sessions from around Rs 16.5-17 right up to Rs 14-14.5. I feel that while the market moves sideways these stocks will too move sideways. Although they are high-beta their moves will be bigger than the index. So if the market moves 5200 to say 5300 Lanco may move from Rs 15 to Rs 16, not more than that because the overall chart structure suggests a sideways move for most counters." He further added, "So if you are a trader who is looking at a very small timeframe probably around 3-5 sessions then yes, Lanco may move to around Rs 15.9-16 in the near future. That would mean about 4-5% from the current levels. I am not seeing anything bigger than that in Lanco.”