Book profits in Amara Raja Batteries: Hemen Kapadia

Hemen Kapadia of KR Choksey Securities told CNBC-TV18, "In  Amara Raja Batteries we have had a brilliant run up. The stock is moved from Rs 15 to Rs 365 since 2009. The outlook from a longer term point of view remains positive because we won't see a reversal manifesting itself in a longer term chart so easily."

"Currently, the stock is a bit stretched. There is significant amount of negative divergence coming in. So, not a very clear picture the way I see it. The stock has walked into a correction. This could very well turn out to be a correction of a greater degree. If it closes above Rs 366, which is almost its all time high then these negatives go back into the dustbin and stock continues. I wouldn't be too gung-ho about buying now or holding on. I would look to sell or book profit," he added.

 

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