Buy Hindalco with a target of 173; Sell HUL and buy ITC

ET Now caught up with Sandeep Wagle, Founder & MD, Aptart Technical Advisory Services for his recommendations on FMCG stocks like HUL, Hindalco and ITC.

Your take on downside FMCG stocks like HUL, Hindalco and stronger ones like ITC?

The support of 220 has broken for HUL. And the next support of 210 would not hold either. Once it goes below that, somewhere around 198 to 200 can be looked at.

Hindalco has a buy intraday, or possibly next two three days, with a target of around 173. Currently, it is placed at around 165, so we have a buy between 165 and 163 with a stop loss of 161 and a target of 173, possibly intraday for possibly next two-three days.

Was it worth buying a multiplex stock because you got 30 coupons Rs 50 off, you find that with stocks like HUL, soaps off, shampoos off?

HUL is weak, another 5-7-8-10% downside. ITC is a little different in that sense; ITC is a contrarian. So possibly one can sell HUL and buy ITC, that would be a good hedge as well.