Buy IVRCL for short term: Ajay Srivastava

One can buy IVRCL for short term, says Ajay Srivastava, CEO, Dimensions Consulting.

Srivastava told CNBC-TV18, "I disclosed that we build-up a position in IVRCL. It is not a long-term investment position. It is purely trading quasi eye investment call that it should rally up again and come up in the market. It is very difficult to trade the stock."
He further added, "One has to be a short-term trader or a very high risk appetite. It cannot be part of investment portfolio. They will turnaround one day but when that happens, nobody knows. Possibly IVRCL for instance at the lower end of the band is about Rs 30-35, it has not gone down below Rs 30, if I am not wrong, for a very long time. So, one is safe buying at these levels and waiting for a call. I am not recommending it as a major buy but one is much safer at these levels than one was at Rs 60-70."
"One could get a big popup in this kind of stock but one got to remain with the risk. So, in a sense the call is IVRCL – I think it can be a buy but be wary that one needs to book profit at 30-40 percent profit, book and get out."
"HDIL is a much more difficult animal because I do not know the facts to what triggered the crash. So, I am not able to take a call on that."