Keep Rs 175 stoploss in Sesa Goa: P Kushe
Prasad Kushe of Equitytrendz.com is of the view that one can keep Rs 175 stoploss in Sesa Goa.
Kushe told CNBC-TV18, “Most of the infrastructure stocks are into a consolidation phase, so you will see a sideways down kind of movement in them. On the metal front it is going to be stock specific. I particularly like one stock by the name of Sesa Goa. Last week we had witnessed a phenomenal rise in this from Rs 150 to Rs 215. Now this is I believe, is only a part of the entire rally because the move that started at Rs 150 can last a maximum upto 15 August. So what was witnessed last week was only the first wave. We are now in the second wave. So as long as we hold around Rs 175 – that will be a stoploss for this particular stock. As long as we hold Rs 175 we can again go upto Rs 220-240 levels. I think that’s a good risk reward ratio in this market. You can take a risk of Rs 4 then have a reward of around Rs 40-50 on Sesa Goa.”