Hold Essar Oil, says Ashu Madan

Ashu Madan of Religare Securities told CNBC-TV18, "Essar Oil can fall into both the brackets. Post the news of delist, majority of it has already happened, now only 5-7 percent gain could be there on the cards. Therefore, on that basis one can hold but on the other hand discipline says that when majority of the movement or 90 percent of the movement on the upside is already in place, one should try and exit also. So another move, 2-3 percent here and there, one should try to get out and get into a stock which can give this kind of a return in the next six months to one year.""So post delisting upside is capped somewhere, so there is nothing to lose as such from these levels, it will hold at these levels and you can get 5-7 percent upside. It falls in both the brackets; there is nothing to worry as such," he added.