Max India has target of Rs 154: Bothra

Max India has target of Rs 154, says Kunal Bothra, Senior Technical Analyst of LKP.

Bothra told CNBC-TV18, "I am looking at buy Max India, which is trading at around that Rs 140 levels. I am looking at a price target of Rs 154 on an intraday basis. If you look at the chart pattern, it is a very interesting chart because the moment it comes into consolidation, it stays there for quite a few days and then when it moves out of that consolidation, it gives very large moves." He further added, "Now I am anticipating that today the move would be on the upside to quite a bit of an extent. The reason why I am anticipating this is because if you look at the indicators and the volumes, volumes have been lacking in the last 4-5 trading sessions, which clearly suggests that it is in a consolidation phase and second is that the indicators are now showing signs of a positive strength."