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Buy Hindustan Unilever, Pidilite Industries, Voltas: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities suggests buying Hindustan Unilever, Pidilite Industries and Voltas.

April 21, 2017 / 15:06 IST

Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "We have positive view on selective non-banking financial companies (NBFCs) and fast moving consumer goods (FMCG) counter. We are recommending to go long on Hindustan Unilever. The stock has taken support near Rs 900 zone with the Put writing activity of Rs 900-910 strike. It has taken support with help of support trend line. So expecting it to rally towards Rs 945 and one can buy with a stop loss of Rs 902."

"Second is a buy on Pidilite Industries. The stock is making higher lows and forming a positive price pattern on the daily chart. In last trading session, we have seen open interest (OI) addition by more than 5 percent and expecting this stock to move towards Rs 760. So one can buy this stock with a stop loss of Rs 700," he said.

"Last trade will be a buy on Voltas. This stock has seen significant upmove in last couple of series. It has managed to hold the support of Rs 400-405 and expecting a fresh leg of rally. We have seen short covering followed by built up of long position. It can easily head towards Rs 435, so one can buy with a stop loss of Rs 410 for the higher targets."

first published: Apr 21, 2017 10:31 am

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