Watch the interview of Sameet Chavan of Angel Broking with Reema Tendulkar & Sumaira Abidi on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Below is the verbatim transcript of Sameet Chavan's interview with CNBC-TV18
Hindustan Unilever
"Hindustan Unilever has been sideways since last couple of months. It has been moving within the boundaries of falling range pattern. The stock has given a breakout from this pattern with huge volumes. The level of Rs 860-870 was acting as a strong resistance. It has given a breakout form this multiple zone as well which clearly indicates that the stock is likely to climb towards Rs 890-895 over the next few trading sessions. Hence we have a buy with a target of Rs 895 and stop loss would be Rs 857."
Power Finance Corporation
"Power Finance Corporation has been moving sideways since last 4-5 trading sessions and has been facing a strong resistance around its daily 18-day moving average of Rs 275-278. We witnessed a breakdown from important level of Rs 217 which indicates that the stock is likely to remain under pressure for next couple of days at least. We have a target of Rs 260 and we believe that the stop loss can be kept at Rs 274."
Disclosure: Discussed stock may have been recommended to his clients but analyst does not have any personal positions.
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