Apr 15, 2013, 05.18 PM | Source: CNBC-TV18
According to Kunal Bothra of LKP one can buy Zee Entertainment above Rs 210 for the target price of Rs 220 with a stop loss of Rs 205, as a good upside is expected in the stock.
Kunal Bothra (more)
Head of Advisory, LKP | Capital Expertise: Equity - Technical
Bothra told CNBC-TV18, " Karnataka Bank looks very good on charts. It is coming out of that downward sloping channel where it started somewhere in the start of 2013. It is currently trading at around Rs 140 levels and I think that a decent leg for the upside is around Rs 148-150 levels. Anyone who is probably entering now can keep a stop loss of Rs 135."
He further added, " Zee Entertainment Enterprises is an interesting hourly chart which is shaping up forming the sort of a bullish pennant or a bullish flag formation as and how you can see it. If it crosses Rs 210 on closing basis you should see a good upside coming across in Zee. One can buy the stock for the target of Rs 220 with a stop loss of Rs 205."
"If we look at the weekly charts of Infrastructure Development Finance Company (IDFC) probably the last 7-8 days it is forming a good bottom around Rs 135 and Rs 142-143 region and in the last couple of days we have seen a good volume accumulation happening. So my sense is the upmove could probably resume from hereon going in sync with the market as well and probably one can look at a target of Rs 156 on IDFC, stop loss of Rs 140."
Disclosure: No personal holdings in any of the stocks, but at LKP we keep recommending these stocks to our clients.