adani wilmar: Adani Wilmar is Rahul Sharma’s big-cap pick for Samvat 2079. Here’s why

“Adani Wilmar got immediate support at levels of Rs 650 which has been tested four times since August and right now it has great potential to reach top levels again,” says Rahul SharmaHead of Technical Research, Equity99 Advisors.

What is your large cap stock selection for Samvat 2079?
Of the large caps I have selected after much thought because although he hails from the edible oil business, Adani Wilmar today is the leading good FMCG company in India which offers most of the commodities of cooking essentials for Indian consumers including edible oil, wheat, flour, rice, pulses, sugars and continues to enjoy a leading position in this largest market share in the national edible oil industry .

The promoters are the majority shareholder with about 88% of the capital and India is also the largest importer of edible oil. AWL, being the market leader in this sector, is very well positioned to move forward.

For technical reasons as well, although we don’t have much data, but the chart suggests that it got immediate support at the Rs 650 levels which has been tested four times since August and right now , he has great potential to reach the highest levels again. So for Diwali special, among the large caps, Adani Wilmar will be my pick at a target price of Rs 950 and the stop loss should be maintained at the Rs 570 level.

(Disclaimer: The recommendations, suggestions, views and opinions given by the experts belong to them. These do not represent the views of Economic Times)


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