Watch the interview of Chandan Taparia of Anand Rathi Securities with Ekta Batra & Nigel D'Souza on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Below is the verbatim transcript of Chandan Taparia's interview with CNBC-TV18
Hindustan Petroleum Corporation
"Hindustan Petroleum Corporation (HPCL) is trading near to its life time territory. It has been consolidating from last five- six trading session even after the market declining. The stock has a major support near to the Rs 670 zone. We are recommending to buy with a stop loss of Rs 670 for the immediate target of Rs 703 and then Rs 720."
Bank of Baroda
"Market is near to the makeover break level. Nifty is near to major support zone of 8,000 and Bank Nifty is finding hurdle near to the 17,500 and taking multiple support zone near to the 17,300 zone. That is the reason that we are selecting a buy on Axis Bank and sell on Bank of Baroda (BoB)."
Axis Bank
"Axis Bank is consolidating from last 5-4 trading sessions outperforming the broader market and taking multiple support near to Rs 540 zone. We have seen some built up of long position which indicates that stock can move toward Rs 580 and higher territory. So we are recommending to go long on Axis Bank with a stop loss of Rs 540 for the upside target of Rs 580," he said.
"Bank of Baroda is making lower-top, lower-bottom formation. It has broken the immediate support of Rs 150 zone and going down. The stock has added short positions, so we are recommending to sell BoB with a stop loss of Rs 154 for the downside target of Rs 138," he said.
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