Chandan Taparia from Anand Rathi Brokerage gave his expert advice on various stocks in interaction with CNBC – TV18 recently. His opinion on DHFL came as confirm buy, as the stock managed to cross the hurdle of Rs 210 zones, that is perfect indication of positive momentum over the counter. Consequently Taparia recommended buying stocks at a stop loss of Rs 204 whilst maintaining the upside target of Rs 220.
During the same conversation, he expressed his confident views on Hindustan Petroleum Corporation (HPCL). In regard of consolidated range along with a multiple support of Rs 902-905 levels, the stock is expected to move upwards. Additionally he stated that investor can opt for HPCL stocks with a stop loss of Rs 902 for a target of Rs 950.
His firm observation in regard of TCS included, “Third trade is a sell on Tata consultancy Services (TCS). We have seen some selling pressure in selective IT counters, especially Infosys and TCS. Recently TCS failed to surpass the crucial hurdle of Rs 2,650 zone and because of that; we are witnessing some long liquidation of positions. Some profit booking cannot rule out in the counter towards Rs 2,510. Recommending to buy with a stop loss of Rs 2,630.”
Chandan Taparia of Anand Rathi Brokerage reviewed stocks of Hindalco Industries to be strong among others as it managed to hold the gains after the market pressure thus has the capacity to outperform on counter. He analyzed an open interest combined by 8% along with huge open interest addition. In such scenario, he gave a firm advice of trading with option that further included Buy 112.50 Call, while keeping a stop loss of Rs 2 as Call may get double to Rs 8.