Godrej Ind may test Rs 368-370, M&M Rs 1390: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "In Godrej Industries open interest has been added up 11 percent. Stock has given a clear breakout and this is on back of some very good long positions. So, it seems that the stock is now heading towards that Rs 368-370 zone, but traders have to keep a stoploss, so I would keep a stoploss of Rs 349 on the same."He further added, "Mahindra and Mahindra (M&M) is an interesting stock because the stock has now started to pick up with all the auto pack. 14 percent open interest has been added up over the week, so last Friday to this Friday and even if you see Friday delivery volumes, 16 lakh shares were traded in cash which is much nearly double of the five days average, so clearly M&M is showing strength.""Technically now M&M has crossed Rs 1,340 zone which was acting as a resistance, so if it managed to hold Rs 1,325 the immediate target looks good to go up to Rs 1,390. So, that is a second pick where we are bullish on.""Third is Kotak Mahindra Bank, all the private banks continue to look strong and strong day by day. Axis Bank has done the same. Kotak Bank has made a new 52-week high and this has come on the back on weekly open interest additions of 6 percent. So, we feel that this stock now is clearly heading towards that Rs 800-810 zone because traders have to maintain stoploss, so we will keep Rs 740-745 range as a stoploss where it has given a fresh breakout from," he said.