Tuesday 7 October 2008

Sell ITC at Rs 180: Gujral

Technical Analyst, Ashwani Gujral is of the view that one should sell ITC at Rs 180.

Gujral told CNBC-TV18, "FMCG stocks are bit like gold; they would hold up in difficult times but as soon as risk appetite comes back or the market starts rallying you would see them drop off. So this probably a good time as defensive, they have done their job you cannot expect them to go much higher from here. So it’s a good idea to book some profits if somebody got into Hindustan Unilever at Rs 190-195; I do not think its going to cross Rs 260-265 easily. Also ITC around Rs 180, it’s a decent sell because it’s not going to move much higher."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: MoneyControl

Posted by Harsh at 00:21

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DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.