VIP Industries has support at Rs 125-130: LKP

VIP Industries has support at Rs 125-130, says Rakesh Gandhi, Senior Tech Analyst, LKP.

Gandhi told CNBC-TV18, "VIP Industries has broken its critical level of Rs 140 and as long as now it remains below that Rs 140 level and does not have that momentum to cross over that and sustain, I think the downward potential from the stock remains more and you could find further support only at Rs 130 or may be up to Rs 125. That is the level where I see support coming in VIP." He further added, "In Lovable Lingerie, I think the momentum which usually was going on has broken because it has fallen below that Rs 480-475 level and has a potential to go further down up to Rs 450-440 level. That could be pretty soon and then there you could find support where we can expect some bounce back from that level."