Bata India can touch Rs 860-880: Kunal Bothra

Kunal Bothra, Sr Technical Analyst, LKP told CNBC-TV18, “If I am looking look at two interesting timeframes, one is the short to medium term timeframe, I think couple of stocks which catch the eye is Bata India, LIC Housing - they look extremely positive or probably attractive on charts LIC Housing is particularly. It is trading just marginally below that 200 day moving average (DMA). I think any time in the next week, if it breaks that I think one can look at a trading pop of 7-10 percent on LIC.”

He further added, “Bata India on weekly charts also looks very attractive. It is building up in the last two weeks. Today also, closing above Rs 800 is a very good sign for Bata. My sense is it could probably touch Rs 860-880 in the next couple of weeks. I think that is also very interesting buying in terms of short term timeframe.”

“I think one of the largecap stocks in terms of probably medium term to long terms timeframe is L&T. It is building up very well on charts on the weekly as well as monthly charts and it is on a way to higher high and higher low kind of a formation on monthly charts as well. My sense is that the previous resistance of Rs 1,700 could easily be broken in the next couple of months if not in this month itself. So I think that is when long term investors can look at the trading pop of 15-20 percent easily on L&T for the next six to eight months.”