Amit Gupta, Head- Derivatives at ICICI Direct told CNBC-TV18, "Midcap fast moving consumer goods (FMCG) stocks are performing better in the market; Jubilant Foodworks and Dabur India are outperforming. In the last one month, Dabur has been hovering in the range of Rs 165-170. Whatever happened to the market, it just remained in this range and we saw that the open interest (OI) was slowly piling up. It did not breach 50-day moving average (DMA) also which was around Rs 165 levels and now if one looks at last session, it closed at around Rs 171, which is the highest in the last one month."
"I feel this particular upmove may continue and it is moving towards Rs 185. Hopefully one can see another Rs 15 upmove in this stock," he said. Also Read: May hike prices by 3% in Q3; see higher Q2 margins: DaburDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
