Buy UPL, Arvind: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "UPL has been trading in a small range in the last few trading sessions. It has formed a good short term base around Rs 445-450. Volume participation has been good today. It has given a short term breakout. So, I feel that a short term target of even Rs 500-520 can be seen in the stock. One can utilise Rs 445 as a stop loss. If you look at the long term charts, Rs 445 seems to be a decent support and on multiple occasions this stock has bounced from these levels. I recommend going long. The short term target of Rs 500-520 are on the cards. If those are held then I feel it can even gain much momentum but for trading one can buy the stock target of Rs 500.""Arvind is on the verge of giving a breakout. It has been trading in a short range and volumes have been good so far. It has been forming higher highs in last few trading sessions indicating that the momentum is intact. It is trading above majority of its averages. Short term breakout is seen at Rs 294 - 295 levels which if broken can lead to Rs 305-310 levels in a swift move. Though it has multiple resistances above Rs 305, at Rs 315 and then again at Rs 325 and at Rs 330 but I feel the set up is quite well. One can go long, keep a trading target of Rs 305 with a stop loss of Rs 284," he said.