Hindalco Industries may test Rs 123 and PFC may bottom out around Rs 186, says Devangshu Datta, Consulting Editor, Business Standard.
Datta told CNBC-TV18, “My take is slightly negative on PFC at these levels; I had a short position which I cashed out sometime ago. I think it could fall may be to Rs 186-188 levels. It opened high today. I think it opened at around Rs 193-194. I think there was steady trend of profit booking through the day and maybe it could bottom out at about Rs 186 or so.”
He further added, “I am hoping for an upside on Hindalco, till Rs 123-124 levels and it has a fair amount of support between Rs 118.50 and 119.50. So you are not risking a great deal if you go long on the stock because you will be able to get out at those levels if things don’t workout. So Rs 123 plus would be the target.” Disclosures: At some point of time I have lost money on all these stocks. So assume that I might have position anywhere.
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