The derivative analyst from HDFC Securities also recommends buying United Spirits November futures for a price target of Rs 940.
On the broader market outlook, the technical analyst sees 18,350 as the next resistance for the Nifty 50, and support at 17,800-level.
Even as brokerages are positive on the prospects of the two liquor majors, they face profitability challenges
After an exciting 2021, shares of major alcohol manufacturers have been under pressure so far this year. Here's what charts suggest is in store for them