Exit HDIL around Rs 76-77: Hemant Thukral

Exit HDIL around Rs 76-77, says Hemant Thukral, National Head-Derivative Desk, Aditya Birla Money.

Thukral told CNBC-TV18, "The rally has now to shift from largecap stocks to midcap more and on Friday after two days of short covering HDIL started seeing some long positions being built-up, in fact it was 26% open interest added up with cost moving up. I think it’s more of a trading position because the stock managed to cross Rs 71-72 zone, which was a major problem for it."
He further added, "I think you can see another Rs 3-4 in immediate short-term as a rally but I would recommend traders to keep a very tight stoploss around Rs 70-71 mark and a target of Rs 76. So anybody who is taking fresh longs today should immediately exit around Rs 76-77. It’s a short-term trading call."