Buy UPL on dips: Abhijit Paul

Abhijit Paul of Alphative Advisors is of the view that one may buy UPL on dips with a target of Rs 220.

Abhijit Paul of Alphative Advisors told CNBC-TV18, " UPL has an excellent long-term chart. It has one of the best charts within that sector that is likely to outperform from hereon. I would like to approach it from a short-term point of view with the target of Rs 220 on the upside and one should use a stoploss close to Rs 185. One should keep in mind that the stock has been moving up all the way up for the last five days. So, one may not hurry and buy into it, probably use a dip of a percent or two and get into it."

At 14:10 hrs UPL was quoting at Rs 204.20, up Rs 3.20, or 1.59 percent. It has touched an intraday high of Rs 206.90 and an intraday low of Rs 201.05.

The share touched its 52-week high Rs 218 and 52-week low Rs 122.05 on 20 January, 2014 and 05 April, 2013, respectively. Currently, it is trading 6.33 percent below its 52-week high and 67.31 percent above its 52-week low. Market capitalisation stands at Rs 9,037.98 crore.

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