Stock Views - Bombay Rayon Looks Weak

Bombay Rayon Fashions Ltd. is looking very volatile at current level. Here one has to see the difference between cash and future & option. Future and option is ruling at a discount of Rs 25 and I don’t think that kind of discount is warranted. It means the future views on the stock is very negative. Whenever any kind of news comes in the stock can fall below Rs 230-240. This can be seen as price management but I am not at all comfortable with Bombay Rayon considering the difference in F&O. Cash is ruling at Rs 286, F&O is ruling at around Rs 260, so that’s a clear-cut case of negative view on the stock going ahead.

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