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Above Rs 123, Texmaco can touch Rs 147: Ashwani Gujral

This article was posted on Jul 3, 2009 and is filed under Stock Views

Technical Analyst, Ashwani Gujral is of the view that above Rs 123, Texmaco can touch Rs 147.

Gujral told CNBC-TV18, “Railway stocks like Kalindee Rail, Texmaco, Titagarh Wagon, & BEML tend to peter out once the rail budget is out. So, one need to keep trailing stops. On Kalindee, the trailing stop is about Rs 205. If it can take out Rs 235, then probably Rs 285 will come. Texmaco, trailing stoploss is around Rs 96 and Rs 123 is a key level. If that gets taken out, Rs 147 comes back.”

He further added, “Titagarh Wagons, keep a trailing stop at about Rs 410. It needs to get past Rs 450 to reach Rs 500. BEML, keep a trailing stop at about Rs 1,020 and if it can take its previous high of about Rs 1,160 then it can get up to Rs 1212. But basically once you have had this sort of run-up and the news is out, it is time to book profits.”

source: Moneycontrol

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