Hold NALCO, advises Ashish Chaturmohta

Ashish Chaturmohta - Head Technicals & Derivative Research at Fortune Group recommends holding National Aluminium Company as the stock may touch Rs 65-67 in next 2 months.

Ashish Chaturmohta - Head Technicals & Derivative Research at Fortune Group told CNBC-TV18, "One can hold on to National Aluminium Company  (NALCO) because already we have seen a very steep correction in the stock in last couple of months from almost Rs 68-69 to around Rs 38-39 kind of level. The stock has formed a very strong base around Rs 40-41 kind of levels. So clearly till it holds above this Rs 41-42 levels for next couple of days then there can be a good upside in the stock."

"May be in the next 2-3 months one may expect a target of around Rs 58-60 kind of levels and still if someone continues to hold it then even NALCO has the potential to cross Rs 65-67 but around those levels, I will suggest to book profits," he added.

Disclosure: Analyst does not have any holdings in the stock nor he has recommended the stock to his clients.

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