Hemant Thukral of Aditya Birla Money told CNBC-TV18, "Apollo Hospitals and Crompton Greaves are midcaps. We feel that now midcaps will catch-up with the largecaps on the rally front and Crompton saw that yesterday. We saw 13 percent open interest addition and importantly 13 lakh shares in open interest added up, delivery volumes jumped big time. Cash volumes of 197 lakh shares and all this happened while the stock managed to cross Rs 64 band easily and now Rs 64 will act as a support level and that is why we have now Rs 64 as a stop loss and we feel in immediate short-term the stock's first target is Rs 74.""In Apollo Hospitals, big buying in cash happening. The cash volumes are 3.3 lakh shares. Its last five day's average is 1.6, so suddenly yesterday the stock has seen that spurt happening on base of cash volumes, open interest added up four and all fresh long positions added up. In immediate short-term, we feel Rs 1,435 to Rs 1,440 is the next level where we can see the target coming in but as traders, we have to keep a stop loss, so Rs 1,377 or Rs 1,375, which is the strong support, will act as a stop loss level for Apollo Hospitals," he said.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
