Trident may slip to Rs 58: Shahina Mukadam

Shahina Mukadam, Independent Market Expert told CNBC-TV18, "The numbers of Trident were disappointing and so it has not able to cross resistance levels of Rs 68. Also EBITDA margins are being impacted because of maybe e-commerce, slowdown in demand. So, to that extent their terry towels and bed linen sales as well as margins have been impacted.""There is a good support at Rs 58, the stock can slip to those levels. Over the two-three years next period if India is able to compete effectively with China and gain market share as it has been doing then maybe for the next two-three years it can again revive from here. As of now I think it is better to switch to some other sector," she said.