Last Updated : Jan 16, 2018 10:39 AM IST | Source: CNBC-TV18

Buy HDFC Bank, ACC, Zee Entertainment: Chandan Taparia

Chandan Taparia of Motilal Oswal Securities is of the view that one may buy HDFC Bank, ACC and Zee Entertainment Enterprises.

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Chandan Taparia of Motilal Oswal Securities told CNBC-TV18, "Yesterday Bank Nifty has given a fresh breakout, hit the new lifetime high after the long underperformance. It managed to close above 26,000 zone. So expecting HDFC Bank to perform. It has given a decisive close above Rs 1,875, added open interest buy around 7-8 percent, fresh Put writing also visible in the counter. So recommending to buy with a stoploss of Rs 1,875 for an upside target towards Rs 1,945 level."

"Second trade is buy on ACC. We have seen buying interest in most of the cement counter with long built up. ACC added open interest near to 5-6 percent. It is forming a positive price pattern, surpassed its immediate supply trend line. So the stock is potential to head towards Rs 1,900 levels. One can buy with a stoploss of Rs 1,795."

"Third trade is buy on Zee Entertainment. This stock has given fresh breakout, longs are intact, and we have seen significant jump in the delivery and the trading volume in last two trading session. So expecting this rally to extend towards Rs 627. One can buy with a stoploss of Rs 597."

"Those who are looking for options, can be with Bull Call Spread of Tata Steel and expecting the stock to hit towards Rs 800. So one can buy 780 Call, sell 800 Call, take the risk of around 4 points, that is near to Rs 4,000 and if the stock moves as per the expectation, then one may get the profit of around Rs 8,000 in this strategy," he added.
First Published on Jan 16, 2018 09:59 am
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