Go long in Tata Global, target Rs 169-170: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "On delivery front as well as open interest front we saw best of additions that a stock can see in Tata Global Beverage which is telling that long positions have been implied. Even if you check the difference between the cash and future, it has increased. So a good speculative long position is already built up in the system."

"Tata Global Beverage has managed to cross its 200-days' moving average; at Rs 157-158 it was posing a lot of threat on that area and now it has the potential to test Rs 168-170, there is the next stiff resistance lying, but traders can build up long positions. I will keep a stop loss of Rs 155 because in earlier times also Tata Global has sometimes failed to give a signal of a follow-up buying, so I will keep a slightly tight stop loss of Rs 155 on this stock," he said.

"The way the data has been shaping up both on open interest and delivery, I think chances are very high that traders will make money this time and target of Rs 169-170 should be achieved in next two-three trading sessions."