Ujjivan Financial Services may test Rs 320-325: Hemant Thukral

Hemant Thukral of Aditya Birla Money told CNBC-TV18, "On the stocks side, we have found two interesting stocks today. We are seeing a lot of buying coming in NBFCs. So, one of the stocks which is being completely battered down is Ujjivan Financial Services. Now we are seeing some buying coming back in Ujjivan and especially if you see the volumes in first one hour today have been very huge and stock is now trying to rebound from the base that it is trying to form around Rs 295-300. So, we have kept a very tight stoploss around Rs 303-304 and we expect the stock to test Rs 320-325 zone."

He further added, "The second stock is Jaiprakash Associates. Again a trader stock where we have seen a lot of open interest being built up today, 11 percent. Remember JP Associates has come out of F&O ban today and the way Rs 13.3, that is the technical base that it has given a breakout from, so that should act as a stoploss level now. We are seeing a target of Rs 15.50-16 in coming two to three trading sessions."

"The way I feel is that a lot of open interest now is started adding up on the long side which is a very good sign because what we saw in last week was more of short covering coming in. Now, especially even if you see today, stocks like Divis Laboratories and Lupin, both are adding a big open interest and Lupin once crosses Rs 1,200, then I think you will see a big rally coming towards Rs 1,255. So, it is not only Aurobindo Pharma or Sun Pharmaceutical, it is actually now getting a more broader based. So, we are watching Lupin very carefully today. If it sustains above Rs 1,200 then it is a big rally getting unfolded there towards Rs 1,250," he said.