Keep Rs 260-260 stoploss in Welspun Gujarat: Thukral

Thukral told CNBC-TV18, "The idea behind giving Welspun Gujarat Stahl Roh a buy is that we all know that midcap is outperforming largecap. The data points are still suggesting that this will go on even for the next week and then we are trying to find out midcaps, which have not participated in the rally and Welspun has done the same.”

He further added, “In the last whole week, it has not shown any buying or any activity. Only on Friday it started showing signs of some buying coming back in. The way the open interest built up with cost of carry increasing telling finally some long positions added up. Stock has crossed Rs 280, so it looks good to us to reach that Rs 297-299 mark. The traders have to maintain a stoploss around Rs 260-262 which has been a very strong support for Welspun over the time.”