Buy DHFL, target Rs 243: Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "We have seen a significant open interest (OI) in Dewan Housing Finance Corporation (DHFL) at the beginning of series near Rs 220 and those long positions are intact even after a consolidation move in the counter. We have seen OI addition of more than 35-40 percent and that is the main reason to start the next leg in the counter. The stock is taking multiple support near 50-day moving average (DMA). So we are recommending to buy DHFL with a stop loss of Rs 217 for the upside target of Rs 243."At 15:14 hrs Dewan Housing Finance Corporation was quoting at Rs 226.45, down Rs 0.80, or 0.35 percent. It has touched an intraday high of Rs 230 and an intraday low of Rs 224.30.