Chandan Taparia recommends buying Reliance Industries 980 Call, Lupin and Zee Entertainment.
Talking about Reliance Industries, Chandan Taparia of Anand Rathi Securities told CNBC-TV18 that from the last four weeks it has been struggling to close and hold above Rs 980. He said that they are getting an early sign of leadership from this stock which may take it to higher levels and in a direct way Rs 965-970 zone is likely to act as a support while on upside it has potential to move towards Rs 1,010-1,015 levels. He is recommending to buy 980 Call by putting a stop loss of Rs 12 and expecting this Call to move towards Rs 32.”
He is also recommending to buy Lupin for an upside target of Rs 1,500 by putting a stop loss below Rs 1,435. Recently it made bottom near to Rs 1,400 and now short covering has been witnessed in the counter.
Focusing on Zee Entertainment, Mr. Taparia of Anand Rathi Brokerage highlighted that it is trading near to its old time high levels and holding the gains even after the market volatility. He further added that the positive momentum is expected to extend in the counter. Thus, he is recommending to buy for higher target of Rs 480. One can place a stop loss near to Rs 455.
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