Take a bet at any lower opening for Brandhouse: IIFL Wealth

Anu Jain, VP, IIFL Wealth in an interview to ET Now said Brandhouse looks to be good. It has moved out of a consolidation pattern which is there about 40 odd and given a big break yesterday and that is probably poised at least to go in the interim.

What about Vadilal Enterprises, Vadilal Industries, Brandhouse Retail, HB Stockholdings or ANG Auto, any of these groups or any of these particular stocks that you have given a look at?

I really do not look at most of them but I have had a look at Brandhouse. It looks to be good. It has moved out of a consolidation pattern which is there about 40 odd and given a big break yesterday and that is probably poised at least to go in the interim. It is close around those 55 levels. 60-62 is where it should be targeted. The stop loss should be kept at about 52. So it is one of the stocks which I just watched yesterday because it was outperforming but have not really looked at the other charts.

This is a good breakout. Only thing with all of these stocks the stop losses would be fairly lower because they have all given a breakout and are moving sharply. So I would be a little careful but the volume which has built up especially in Brandhouse is considerably higher than what it usually trades in. So I would probably take a bet at any lower opening for Brandhouse.