Manoj Murlidharan of Religare Securities spoke about his reading of the futures and options market and his outlook on various stocks.
He spoke at length on stocks like Hindustan Unilever Ltd (HUL) and Tata Motors.
“We are still negative on HUL and we believe that the levels of Rs 1,652 is where the stock might find some respite despite the profit booking or the fresh shorts yesterday seen. So buying 1,680 Put option at Rs 18, stop loss of Rs 2 and we are expecting a target of Rs 24 and we would rather buy Tata Motors at this point of time as a momentum call. We believe that the stock has the momentum to rally all the way till Rs 280, the stop loss should be Rs 241 and we recommend buying it close to Rs 255-256 on that,” he said.
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