Moneycontrol
Oct 17, 2016 10:50 AM IST | Source: CNBC-TV18

Go long in DHFL, Voltas: Hemant Thukral

According to Hemant Thukral of Aditya Birla Money, one can go long in Dewan Housing Finance Corporation and Voltas.

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "Dewan Housing Finance Corporation (DHFL) prior to results on Friday has seen 12 percent fresh open interest (OI), 27 lakh shares adding up on the open interest and the delivery volumes also moved up by 120 percent what we have been seeing in last five days average. So, clearly, somebody is expecting good results out of DHFL."

"Technically, also this stock is now poised to move towards that Rs 315-310 levels. So, we are recommending to go long keeping a stop loss of Rs 289-290 which is now will act as a support for DHFL. So, in DHFL we are recommending to go long before the results today," he said. 

"The second stock is another midcap stock we have picked up - Voltas. On Friday, it has surged up on back of good open interest addition to the tune of 8 percent or 7.5 lakh shares added up. Delivery volumes have moved up, the delivery marking was 5.5 lakh shares versus 3 lakh shares of average if you check the last seven day trading days. So, clearly both on the cash side and future side, we have seen buying. The stock has rebounded back from a very strong bottom of Rs 380 and it managed to close above Rs 390."

"So, now the supports will be Rs 390 which we are recommending as stop loss and immediate target looks good for Rs 408 -410. So, both are midcaps, DHFL and Voltas and both we are recommending to go long for two to three trading sessions."

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