United Phosphorous may touch Rs 155-160: Abhijit Paul

Abhijit Paul of Alphative Advisors told CNBC-TV18, "United Phosphorous is close to its long-term averages for quite some time. Neither has it manage to post a significant move on the upside or on the downside. It has been in a fairly wide range. I would look to get into the stock. I would anticipate a breakout once it moves above Rs 145."

"It opens up a possibility that it can extend further in the range of Rs 155-160 and for such a short-term long trade, one should use a stoploss close to Rs 135-136 mark," he said.

The share touched its 52-week high Rs 167.50 and 52-week low Rs 111.30 on 05 June, 2013 and 15 November, 2012, respectively. Currently, it is trading 13.31 percent below its 52-week high and 30.46 percent above its 52-week low. Market capitalisation stands at Rs 6,426.61 crore.

Disclosure: He does not hold the stock but his clients may have positions in these stocks.