Eveready Industries has support at Rs 54-56: Mohindar

Sharma told CNBC-TV18, "We are liking Eveready Industries for sometime and now it has fallen, so provides an opportunity to enter. If you notice the midcaps do outperform the rest of the infact the bigger shares and so I think that’s where the opportunity lies. On Eveready one is looking at very good support between Rs 54 and 56 and the resistance is between Rs 61 and 63. The moment Rs 63 is taken out then one could expect a very good up move from there which could take you to Rs 76 in the next say 6-8 months."

He further added, "In Everonn Education we have seen a good volume based buying in the past 2 days including today and now it’s exactly at its 200 day moving average which is at Rs 397. Now maybe not today, in the next few days if it manages to clear above that then it becomes more interesting."

Disclosure: We have recommended to our clients but no personal holdings.