Aditya Birla Nuvo may test Rs 2120: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "We have positive view on Aditya Birla Nuvo, Century Textile and Arvind. Aditya Birla has taken multiple support near Rs 1,900-1,950 zone in the last 2-3 trading sessions. And moving upwards with significant open interest additions. So, this stock can move towards Rs 2,120 kind of levels.""Century Textiles has given a significant move, but that momentum was fizzled out because of the selling in the market. But the way it is taking multiple support near to Rs 545, it has potential to again head towards Rs 571 and above that we can see the fresh leg of rally in the stock," he added. "Arvind has been consolidating in a range from the last couple of weeks. Most of the time, stock finds hurdle near Rs 295-297, but recently, as per the price behaviour, it seems that the stock is all set to move towards Rs 300 zone. Today, we have seen open interest of more than 12 percent in the counter and that is hardly seen in the counter. So the strategy is go for bull call spread by looking immediate hurdle at high level, buy 290 Call which is trading near to Rs 6, sell 300 Call which is trading near to Rs 2.5. In the entire strategy, risk is around Rs 3.5 while if it moves on higher side, then we will get profit of around 6-7 points," he added.