Watch the interview of Kunal Bothra of LKP Securities with Reema Tendulkar & Nigel D'Souza on CNBC-TV18, in which he shared his reading and outlook on market and specific stocks.
Below is the verbatim transcript of Kunal Bothra's interview with CNBC-TV18
"I always give merit only to the chart patterns of Blue Dart irrespective of the kind of stock liquidity etc but liquidity remains to be an important parameter. Also it is a thinly traded stock. Looking at the chart patterns, it is a pure bullish parent formation breakout, the breakout was around Rs 7,350 odd levels and the stock is almost around Rs 150 up from that particular level."
"Even at these prices of Rs 7,500, I think the chart patterns merit a very strong buy. Like most of these names, which are consolidating and now inching back towards hitting the 52-week highs or lifetime highs, even Blue Dart could be a very good contender there. I am looking at a target of at least Rs 8,000 over the next couple of weeks keeping a stop loss of Rs 7,100," he said.
"You look at the first larger trend of most of these midcap names or largecap names, if the larger trend is intact and is extremely positive then you look at corrections to buy KEC International."
"The set up is exceedingly good after a recent uptrend over the last one and a half to two years, the stock corrected almost 15-20 percent and now it is picking up action again. It is trading comfortably above 200-day moving average (DMA) and even there seems to be an attempt of volumes getting much more stronger," he said.
"The stock is at around Rs 142 odd levels but from a very short-term perspective, we could see a re-test of the previous high of around Rs 150. That could be a target for the next couple of days, keep the stop loss of Rs 138 on the trade."
Amara Raja Batteries
"I think that the texture remains the same, I am picking stocks which are trading on a very strong uptrend. Amara Raja Batteries specifically has given a swing breakout today. If you look at the last five-seven days of pattern, the stock seems to be facing resistance around Rs 1,040 mark but now the fact that it has given swing breakout above those levels, I expect it to head to levels of at least Rs 1,120 over the next couple of days, looking at the stop loss of Rs 1,020."