Amit Gupta of ICICIdirect advises buying Hindustan Unilever and shorting Nifty.
Amit Gupta of ICICIdirect told CNBC-TV18, "Hindustan Unilever (HUL) is trading at a life high levels of around Rs 1,400. So this lower leverage means the people are still sceptical on these upsides what is happening in HUL and they are not available to go very aggressive long positions and that generally goes very good for the stock in the short term."
"Whenever it is declining, it is immediately reversing, from September there was a fall from almost Rs 1,300 to Rs 1,150. It immediately recovered that particular fall and recently again we had a fall from Rs 1,400 to Rs 1,330 and it is recovering that particular fall also.""So, my sense is HUL is on the run way towards Rs 1,500 levels. If you can buy HUL and go short in Nifty I think it may be a good pair strategy and 7.9 where the price ratio of Nifty upon HUL is right now it has started declining. So, that will also go well if you are going long in the stock and short Nifty right now at this junction," he said.