Shardul Kulkarni of Angel Broking told CNBC-TV18, "I would be quite bullish in United Spirits. The overall chart structure is a very strong, higher top higher bottom on the weekly as well as the monthly chart. If one sees the daily chart, there is a strong possibility of a trend line breakout in the stock. So, any move beyond Rs 2680-2690 that breakout will get confirmed. It is just that the volumes should support. Volumes are not supporting as of now."
"I would wait for the volumes to pick up. Any volume above the levels of 15-20 lakh shares on a daily basis on the NSE cash would be a good sign to go long in United Spirits and Rs 2690 is the level that the stock should cross for the traders to take positions. Once Rs 2690-2700 is crossed Rs 2850 levels can be tested. The stock has a very strong chart on the weekly basis," he said.
Disclosure: He may have recommended the stock to his clients and they may have taken them in their portfolios.
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