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(My Original Blog Post: http://www.onlineequitycalls.com/2008/12/exit-kingfisher-airlines-between-rs-32-35-bhambwani/)
Technical Analyst, Vijay Bhambwani is of the view that one should exit Kingfisher Airlines between Rs 32-35 price band and sell on advances.
"These stocks are wealth destroyers the ray of hope for cheaper ATF is like cutting your arm off and applying a band-aid to it, it’s merely going to give an adrenaline shot to a dying horse; you can flagellate a dying horse as much as you want to but you cant win the race so I don’t think these are stocks that are likely to be outperforming or even performing in tandem with the headline indices in the couple of years, as far as specific levels are concerned Rs 22 is the support level for Kingfisher, on the upside, Rs 32-35 band is what I would see in a gung hoe scenario, I would love to exit from the stock at Rs 32-35 band and sell on advances."
Source : MoneyControl |
