Buy Hindalco Industries 82.50 Call, says Chandan Taparia

Chandan Taparia of Anand Rathi Securities told CNBC-TV18, "We have seen sustained buying interest in selective metal counters like Hindalco, Tata Steel, JSW Steel and after a long time, even after the market consolidation, these stocks are continuously moving on the upside. We have seen negated of the negative trend in most of the metal counters."He further added, "Hindalco Industries has made multiple double bottom near to Rs 73 zone and has seen the move towards Rs 83-84 zone. It has surpassed its multiple hurdle of Rs 83 zone and also holding above 50-day moving average after a long time. We are observing built up of long position for long by short covering and the major trend is going to be a change here. So, that is the reason we are expecting momentum to continue in the counter.""I would suggest to trade with option. Stock has potential to move towards Rs 88-89 level. So, suggest to buy 82.50 Call, keep the stoploss of Rs 1 and expecting this call to move towards Rs 5 on higher side," he said.