In an interview to CNBC-TV18's Ekta Batra & Anuj Singhal, Kunal Bothra, Head of Advisory at LKP shared his readings and outlook on market and specific stocks and Krish Subramanyam of Altamount Capital gave his outlook on Futures and Options (F&O) side of the market, specific stocks and sectors.
Below is the verbatim transcript of Kunal Bothra's interview with CNBC-TV18Bosch"After a steep correction in Bosch in the last two or three months, the stock is trying to pick up pace, Rs 21,200 or Rs 21,250 is where the breakout for this flag pattern on daily charts has happened. The fact that it is trading above Rs 27,500 is a good sign that it has developed some cushion.""If the momentum continues, I am expecting at least Rs 22,800 to Rs 23,000 for Bosch over the next couple of days. The stop loss is a breakout line, which is Rs 21,250," he said.NALCO"If you look at the last two-two and half months' charts of NALCO, somewhere in August 2015, particularly the time when market was tumbling, that is where the stock hit a bottom below Rs 30 and from there it has almost been on two and half months of uptrend. It has seen a phase of consolidation, seen a phase of correction but has managed to sustain the uptrend. So that is a robust sign, a bottom is in place for the stock at least from a medium-term basis.""I believe that the 200-day moving average, which is closer to Rs 43-44 level is going to be the first developed resistance for the stock and that is where you might see some good selling pressure happening. So from trading basis, the risk reward is also extremely good, you could look at buying at Rs 40-40.50 zone, where the stock is trading and look for a target of Rs 44, keeping a stop loss of Rs 38," he said.Hindalco Industries"The metal names are generally high beta in nature and that is an obvious mark. Looking at the last two weeks we have seen 30 percent rally. We have seen more or less a correction of only 5-10 percent in these stocks, which is a good sign because generally if you see a bottom which is not in place, a 30 percent rally gets equally sold by almost 20-22 percent odd kind of selloff. We have not seen that in Hindalco Industries and looking at the gap up today, I believe that the base of Rs 84-83 which was the lows on Wednesday, that could be held on. From risk reward perspective as well it becomes a good buy.""I am looking at a target of Rs 91 which is closer to the previous high it made couple of days back. I am keeping a stop loss of Rs 82 on the stock," he said.Below is the verbatim transcript of Krish SubramanyamHindustan Unilever"We are giving buy call of 780 strike on Hindustan Unilever (HUL) that is trading at around Rs 18. We are keeping a target of Rs 30 and a stop loss of Rs 9. Post results, we have seen HUL head below Rs 800 but we have seen some Put writing taking place at Rs 760-780 levels.""We feel that the near term bottom should be in place and going into expiry we should see some bump up coming about in that particular stock," he said.Reliance Communications"Reliance Communications has been a relative outperformer in the telecom segment and we have seen some consistent short covering taking place from lower levels. Now it is also managing to consolidate above Rs 80 but going into expiry we should see some near term upside.""We are recommending a bull spread wherein one could buy 80 strike Call at around Rs 2.80 and sell 85 strike Call at 90 paise to Re 1. The net cost comes to about Rs 1.90. We are keeping a target of Rs 4.50 and may be one could keep a stop loss of Re 1," he said.
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