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Last Updated : Jan 11, 2018 12:57 PM IST | Source: CNBC-TV18

Buy Manappuram Finance, Exide Industries, UPL: CA Rudramurthy BV

CA Rudramurthy BV, Research Head at Vachana Investments suggests buying Manappuram Finance, Exide Industries and UPL.

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CA Rudramurthy BV, Research Head at Vachana Investments told CNBC-TV18, "I have a buy call on Manappuram Finance, the stock has seen strong buying at levels closer to Rs 118 -120 and lot of accumulation is also happening in F&O. Open interest is getting added on the positive side and even I have seen in block deals promoters buying this stock closer to Rs 90-100. It is a very good stock for me, Rs 150 is the minimum target on Manappuram. People can rollover and even carry their positions in future, have a stop loss of Rs 118 for the long call."

"I have a second buy call on Exide Industries, again this stock has seen huge accumulation at levels closer to Rs 218-220 and delivery based buying is seen. Open interest built up is seen on the positive side. The chart looks very positive for me. Rs 250 is a minimum target, one can expect with risk reward very favourable. So have a stop loss of Rs 219 for this long call and the stock can head even above Rs 250 levels if someone can hold for medium to longer term."

"I have a buy call on UPL, the stock looks very strong, it took support closer to Rs 700 and is bouncing back. In last two to three days, huge accumulation is seen. Rs 900 is a minimum target I see on UPL and one can have a stop loss at Rs 770."

"I expect big movement to happen in Tata Motors and Tata Motors DVR. These two stocks can be looked in the future counter and one can definitely be long on all these stocks," he added.
First Published on Jan 11, 2018 12:55 pm
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