Go long on United Spirits; target Rs 805: Sharma

Salil Sharma, Technical Analyst, Kapur Sharma & Co is of the view that, one can go long on United Spirits for target of Rs 805 with a stoploss of Rs 760.

Sharma told CNBC-TV18, "MTNL definitely should be avoided, Development Credit Bank (DCB) one should wait for the results and then take the call on, because that can be a volatile session after the results are due but yes, definitely United Spirits is looking good as it has crossed above Rs 770 level so one can go long on it with Rs 760 as a stop loss and Rs 805 as a target." He further added, "The Mangalore Chemical also can be bought but for longer 20-25 days kind of a positional trade. Besides this we like Suzlon Energy, I think their the kind of bottoming out process seems to be getting over and it would cross above that Rs 20-21 level and then head towards Rs 25." Disclosures: Whatever we have discussed, we would have a direct or indirect interest in it.