Tata Global Beverage may touch Rs 156: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "Tata Global Beverage has witnessed a good bounce from around Rs 40 odd level. Overall the view is still emits a range bound movement though the momentum has again picked up after a small phase of consolidation. It has come out of the consolidation supported by volumes. So the momentum indicators are pointing for an upside in this stock. It is trading below short-term averages. I feel that the momentum might again continue for another Rs 6-7 target can be possible in the stock."

"It is more of a range bound view, but the momentum has picked up so I feel that one can buy this stock. The target can be somewhere around Rs 156 and a stop loss Rs 144. In the longer term I would say the target would be opened once it sustains Rs 170 then only it can head the targets of Rs 200. But until and unless than happens it is going to be a range bound movement for the stock," he said.