Technical Analyst, Ashwani Gujral is of the view that below Rs 440-445, Videsh Sanchar Nigam, VSNL can go down to Rs 350.
Gujral told CNBC-TV18, "VSNL has come down 50% and Rs 440-445 sort of a level is the kind of final support before it breaks down further to about Rs 350 and this is the kind of fate that a lot of heroes of last year are likely to suffer, because lot of people get stuck at higher levels and now there is lots of distress selling. Although index can be maintained and when one sees a 1:5 kind of market breadth, one realizes that what kind of sentiment is prevailing in the market. So these charts need a long time to form bases and then move up from here, I wouldn’t expect any kind of recovery coming in too soon."
Source: Moneycontrol.com
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