Buy United Spirits Ltd. - Stock Recommendation To Buy

I would suggest a buy on United Spirits Ltd. The stock has resistance around Rs 575- 580. One could long it for price target of Rs. 595-600 for short term period.

United Spirits is bouncing sharply of a recent low; it seems to have hit resistance of about Rs 575- 580. If it crosses Rs 575- 580, than it will probably move till about Rs 595- 600. Very volatile and very difficult to tell on today's move whether you have any supports close to the current price. So if you are going long, I suggest keep a stop loss at about Rs 545- 550, and increase the position above Rs 580, and move the stop loss up till about Rs 575 or so.

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