Expect buying to continue in Alok Ind: Hemant Thukral

Hemant Thukral of SBI Capital Securities expects buying to continue in Alok Industries. Target for the stock would be Rs 29.50-30.

Thukral told CNBC-TV18, "In all textile stocks the way the buying has been seen in 5-6 sessions it continues. Alok Industries yesterday has seen an interest addition of 6% along with heavy cash volumes of 13 lakh shares. But if you compare it with the average of last 5 days the average has been 7 lakh shares. The stock has managed to close above Rs 27.50 which was acting as resistance for it. Now in the immediate short term we expect the buying to continue and target for Alok Industries will be Rs 29.50-30."