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Last Updated : Mar 11, 2016 10:10 AM IST | Source: CNBC-TV18

HDFC may test Rs 1183, Hindalco Industries Rs 89.20: Rajat Bose

Rajat Bose of is of the view that HDFC may test Rs 1183 while Hindalco Industries may hit Rs 89.20.

Rajat Bose of told CNBC-TV18, "HDFC looks like is one of the standout performers in the recent rally and it is showing lot of strength. So, I expect it to move up. Once it crosses Rs 1,157 it would be headed for Rs 1,183 to about Rs 1,195 kind of range. So, if HDFC has to retain its momentum and move up it should not fall below Rs 1,140. So I have kept a stop loss out there. The targets are Rs 1,195 prior to that Rs 1,183 but keep a watch over Rs 1,157." 

"Hindalco Industries is another standout performer, last four days of pretty good rally and still showing good momentum. Target would be Rs 89.20 because Rs 90 happens to be the resistance and above that Rs 93 is a very strong resistance. However, for the day Rs 89.20 is my target and I have kept a stop loss at Rs 78.80.," he said.

"Apart from that I have a buy call on midcap counter which is Mukta Arts. It is showing enormous momentum. This momentum might well play out even today because there is lot of buying interest. Yesterday I felt that still there is some tailwind left. So, targets should be Rs 77 and 82. The stop loss would be Rs 63."

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First Published on Mar 11, 2016 09:57 am
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