Lovable Lingerie at strong support at Rs 300: Seth
November 16, 2011 by admin
Filed under Latest Lingerie News
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Prashastha Seth, Senior VP IIFL Private Wealth is of the view that Lovable Lingerie at strong support at Rs 300.
Seth told CNBC-TV18, Some of these stocks will always be a high beta stocks and whenever the market moves in either direction, they will probably see a faster move on either side of the market, so what you are seeing essentially is a sharp cut because some of these things have moved ahead in terms of their valuations and some of them were trading at ridiculous valuations. So some amount of sanity is probably coming in, I still think its expensive but I think there is a liking for some of these stocks. Probably at around Rs 300 levels, we would find decent support to the stock coming in because all said and done the numbers are there, you are still seeing decent growth in terms of margins, in terms of revenues. So you will probably see people coming a buying these stocks at lower levels.
He further added, My sense is at Rs 300 odd you would probably get some amount of support coming into the stock. Anything above Rs 450 it becomes ridiculously expensive and that would probably be the point to sell. So unfortunately we are just in middle of that range, so its difficult to take a call but Rs 300 would be a good buying price and Rs 450 would be a good selling price.
