Tata Coffee has target around Rs 1630-1640: Kulkarni

Tata Coffee has target at around Rs 1630-1640 levels, as the chart structure of the stock is extremely positive, very strong higher top higher bottom, strong consolidation and today it is up 4-4.5 percent, says Shardul Kulkarni of Angel Broking.

Kulkarni told CNBC-TV18, "I think stock picking will be very crucial going forward because in the next 100-150 points we may actually see individual stocks move up 5-7 percent from the current levels. So if we take the case of Bharat Heavy Electricals (BHEL) going forward stock faces resistance around Rs 245-246." He further added, "I would like to mention three-four stocks where in one can see good moves from the current levels. One of them is Tata Global Beverages as well as Tata Coffee. If you take a look at the charts of Tata Global Beverages Rs 175-176 is what I would look at as a potential target price from the current levels. In case of Tata Coffee one should look at a potential target of around Rs 1630-1640 because the chart structure of Tata Coffee is extremely positive, very strong higher top higher bottom, strong consolidation and today stock is up 4-4.5 percent." "Another one where traders would like to take positions should be Hindustan Construction Company (HCC). It has given good consolidation and then given a breakout in today’s trading session, strong cup and handle breakout. From a positional traders perspective it is a good stock to be in so I would look at a potential target of around Rs 21.5-21.75 in the near future."