Aditya Arora of Adlytick, said “in buzzing stocks like RailTel, IRFC and IRCTC, the market has priced in more than there is on the table. So, they seem pretty overvalued, overstretched, and charts are looking pretty overbought. It is a good time to lock the profits wherein people had invested previously at lower levels. Now, it is time to take chips off the table because correction is very likely in these counters.”
Let us talk about the PSUs. Actually, all these public sector entities, whether you look at a RailTel, RVNL, IRCTC, Tourism Finance, IRFC, all of them are buzzing in trade and the run up that we have seen in these stocks, even in just the last five days, is something that one cannot fathom. What are the charts looking like for any of these names?
Aditya Arora: There is good news to back that up as you said RailTel, IRFC, IRCTC, everything is buzzing away. But I think the market has priced in more than there is on the table. So, they seem pretty overvalued, overstretched, and charts are looking pretty overbought. It is a good time to lock the profits wherein people had invested previously at lower levels. Now, it is time to take chips off the table because I think correction is very likely in these counters.
Let us also talk about something like PVR-Inox, that is too buzzing away in trade. On the charts, anything looking technically exciting for PVR-Inox?
Aditya Arora: Yes, PVR has corrected significantly from Rs 1815 to Rs 1500 kind of level. At these