Popular stock analyst with success rate of at least 99.9%, SP Tulsian confirmed that the gang rape incidence in Delhi and latter the protests are overall positive for the government and therefore require to buy UPA and Congress at current levels.
"I feel the government is at bottomed out levels. With gang rape protest and overall steps that the government took through Police officers, I don't feel that the UPA stock will move further down. From here onwards it is buy, a multi bagger opportunity," said expert SP Tulsian in an interview with CNBC TV 18's Udayan Mukherjee.
He said "See Udayan. I like bottom fishing. I am contrarian investor and love to put my money in the stocks which have lesser downside. With the Company Secretary Sushil Kumar Shinde's statement that he can't meet maoists gives stability to the government officials. Further, I don't feel it would move beyond this level and already sold out stock would see a bit of good upside from the current levels."
While talking about risks attached in buying UPA at current levels, Tulsian said "Look Udayan everything has risk attached to it. But right now at a price of Rs 0.20 per share levels, I feel UPA stock will not go down to zero levels and it also ensures a comfort of getting multibagger opportunity."
"UPA which is currently facing angst all over India for its unusual and non conventional policies make the stock a riskier bet," said a technical analyst, Sudarshan Sukhani.
He said "I would not put my entire money on the UPA. It is better to keep some amount of cash. While I agree to Mr. Tulsian that UPA is showing bottom formation on the charts, I don't see any reason why this could not be a blip. As there are 2 more years remaining to complete the formation, I would like to put only 20% of my money in the UPA and rest preserve cash or even buy some bit of BJP. "
