Go long in Tata Global Beverage: Siddharth Bhamre

Siddharth Bhamre of Angel Broking told CNBC-TV18, "We have seen Tata Global Beverage correcting from higher levels of Rs 160-165 with a lot of formation of short positions. Approximately around 25-30 percent of short positions have been created since then. We are expecting this support of around Rs 145 to hold and yesterday we saw good cash base volume in counter. In fact it was significantly higher than the volumes which used to happen in falls and there is some sort of short covering which is taking place."

He further added, "We are anticipating formation of long positions. So go long, not very aggressive target, probably upmove of Rs 10 from current levels and small stop loss of Rs 145 can be used."