Bullish on ADAG stocks; sell Dabur India: CA Rudramurthy BV

CA Rudramurthy BV of Vachana Investments told CNBC-TV18, "I have a bullish view on ADAG stocks and in that I have picked up Reliance Infra as well as Reliance Communications (RComm). No doubt even Reliance Capital also looks very good on charts. Reliance Infra is my first pick where the stock has definitely consolidated in the range of Rs 550 to 570 levels. Now it is looking for a breakout, Reliance Infra can be bought for a target of Rs 610 keeping a stop loss of Rs 540." "Similar patterns are visible in Reliance Communications, it is a buy. One can look at targets closer to Rs 60; Rs 48 has been a very strong support and the stock is definitely getting accumulated and bounced from these levels. So, with a stop loss of Rs 50, I will go long on RComm keeping a target of Rs 60 for the August series," he said. "I have a sell call on Dabur India. The stock is definitely seeing signs of distribution and some resistances is kicking in at levels closer to Rs 308-310. So, Dabur can be sold expecting a small retracement levels of Rs 290 which is visible, keeping a stop loss of Rs 308."