CK Narayan of Growth Avenues told CNBC-TV18, "We are seeing some bit of traction across the board in the FMCG pack particularly if you saw the way Hindustan Unilever (HUL) moved yesterday, it was kind of a pick of the lot yesterday. The stock moved pretty aggressively and has also staged the kind of breakout."
He further added, "Dabur India is in the best position having moved to all time new highs. The breakout is decisive, it is being accompanied by good amount of volume, good amount of build up in positions in futures. So I would hedge my card to Dabur and would want to ride it out substantially higher. For the week, I would look for a target about Rs 318-325 but if one is looking across a month then Rs 360-365 seems to be on the cards as well."
At 09:33 hrs Dabur India was quoting at Rs 295.75, up Rs 0.40, or 0.14 percent. It has touched a 52-week high of Rs 298.80.
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!
