Exit Videocon Industries around Rs 180: SP Tulsian

Exit from Videocon Industries around Rs 180, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “Videocon, positive news because of the gas kind of estimations they are making and 10% stake of the company in that, but generally the upsurge in the share is never sustainable.”
He further added, “People have lot of concerns though the company has initiated the move also to hive off the electronic division and oil and gas assets separate, but I don’t think that the upsurge is really sustainable and it will be better to avoid creating long positions at this level and those who are either stuck or those who are getting profits can look to exit at a level of Rs 180 or plus.”
“Two stocks are looking very good, Tata Power we have seen the corrections having taken place after their poor Q4 numbers. Infact the renewed buying interest is seen in that stock as well as short covering also. So still I am maintaining my positive view on the stock. I am expecting it to breach double digit in the near term and may be about Rs 105-106. So this is a call for the short term investors or purely from a trading point of view which can be initiated as a positional long call for this series and in addition to this the second call on which I will be comfortable in taking a long position or long call is Adani Power because that stock also has seen huge shorts having built up and having seen corrected below which it is not likely to correct further. So these two stocks are looking good in the power generation space.”