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Buy Bharat Electronics, Hindustan Unilever, M&M Financial Services: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities recommends buying Bharat Electronics, Hindustan Unilever and M&M Financial Services.

December 08, 2017 / 11:08 IST

Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "Buy Bharat Electronics Limited, the stock has taken support at its rising and horizontal support trend line. It also respected its 50-day exponential moving average. We have seen some short coverings and the stock is forming a positive candle pattern on the daily chart. So, recommending to buy with a stop loss of 179 and look for an upside target towards Rs 191."

"Second trade is buy on Hindustan Unilever (HUL). It seems that this stocks is all set to hit the new high territory. It has seen some consolidation in last four to five weeks with multiple support at Rs 1,255. The stock has surpassed immediate hurdle of Rs 1,275 and closed above the same in last two trading sessions."

"We have seen built up of long positions by around 7-8 percent in two to three trading sessions which can drive the fresh rally towards new high territory. So, recommending to buy with a top loss of Rs 1,275 for an upside target towards Rs 1,340."

"A buy on M&M Financial Services. We have seen built up of long position by around 5-7 percent. The stock has given a consolidation breakout and is one of the strongest counter in the finance or NBFC segment. Overall trend is quite positive and recent breakout could add the more momentum to this stock. So one can buy with a stop loss of Rs 448 for target towards Rs 475," he said.

CNBC-TV18
first published: Dec 8, 2017 10:30 am

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