Buy Supreme Industries: Ashu Madan

Buy Supreme Industries, says Ashu Madan of Religare.

Madan told CNBC-TV18, "I recommend buying Supreme Industries at current market price of Rs 150 with a target of  Rs 165. In the next few days, I feel that there could be some sharp upside movement in this stock. It is the largest  exporter of the plastic goods and at the same time the technical charts are showing lot of strength." He further added, "The stock which is showing strength in the current market situation with such correction whenever  the market stabilizes there would be couple of stocks, which are to be accumulated for medium-term and long-term  also though our portfolio is for short-term momentum but I still feel that during short-term also it could give us decent  return, so maybe with 10% upside we can buy this stock at current market price of about Rs 150."