Amit Gupta of ICICIdirect told CNBC-TV18, "There is some buying coming back into the consumer stocks whether you look at Hindustan Unilever , Titan Company or Havells India , I think Godrej Industries has remained a laggard for quite sometime now. It has been a total underperformer in the market but recently we have seen initial signs of some movement starting in the stock. If you look at the delivery pickup, it has been really good in the last couple of weeks. If you see the volumes which have picked up at Rs 280, now Rs 280 has been a very good level because if you draw a trend line from 2009 in the stock, that comes at Rs 280. It has not breached that trend line in the last five-six years." "At these levels if you look at the short covering, yesterday also there was little bit short covering, it has already panned out, so above Rs 291 because that was the level where very high volumes were seen on the higher side, there is a possibility that the stock may move towards Rs 315-320 kind of levels," he said. "Overall it is at a good base, it has already spent one and half months over here and because market is likely to consolidate, I think among these kind of stocks also they may start participating. So you can punt on this for another Rs 20-30 upside."
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