Target of 155-158 for Hindalco: Devang Visaria

ET Now spoke to Devang Visaria, Chief Strategist, devangvisaria.com, on his views on the market.

ET Now: How do you rate Hindalco?

Devang Visaria: It has just been consolidating in a very narrow range between 148 and 152 on the upside. So there is again a decent risk-reward ratio, especially in a market, which is really range bound. You are not seeing much action on the Nifty, it just goes down 50, comes up 50 for the last four trading sessions.

So in such a range-bound situation, one has to look for the smart risk-reward ratios. Hindalco fits the bill, so we picked up Hindalco and we are looking for targets of 155 going further, possibly 158 also for Hindalco.