HCL Tech has resistance around Rs 505: Kulkarni

Kulkarni told CNBC-TV18, "HCL Technologies gave a breakdown 3 days back and now that has been negated. The breakdown level was around Rs 472 and now that breakdown has been negated. So the stock will continue to remain range bound."

He further added, "On the lower side Rs 472 would be the level where in one would see decent support whereas resistance would come around Rs 505. So so long as the stock stays in this particular range I think traders can huge declines towards Rs 472 buy with a stop loss of Rs 469 and on the upside Rs 505 should be used as a level to book profits."

" Pantaloon Retail is expected to move higher to a target of Rs 195. Allahabad Bank , I would buy with a stop loss of Rs 138 and target price of around Rs 157-159. Lanco Infrastructure wherein I am expecting a target price of around Rs 15 and the stop loss would be at Rs 12.95. Little larger than all these JSW Steel wherein I expect that the stock should reach around Rs 680-685, stop loss would be at Rs 610."