UPL may slip to Rs 355, says Bhavin Desai

Bhavin Desai of Motilal Oswal Securities told CNBC-TV18, "Nothing specific, no specific pattern has formed in UPL yet but then the stock has been in a downtrend and there is absolutely no sign of reversal. The momentum indicators are not yet showing that bottom could be or rather the move could exhaust around here, so continuing to sell this particular stock.""The swing high recently can be kept as a stoploss, Rs 375 around the future closed yesterday, so Rs 383 can be kept as a stoploss and we are looking at targets close to Rs 355," he added."At 09:59 hrs UPL was quoting at Rs 375.75, up Rs 2.25, or 0.60 percent on the BSE.