HDIL may test Rs 48-49: Kunal Bothra

Kunal Bothra of LKP told CNBC-TV18, "Indiabulls Real Estate is forming a very strong inverse head and shoulder pattern. It has come out of down trading channel. All the other technical parameters is suiting very well for continuation of an uptrend in it."

"Housing Development and Infrastructure (HDIL) also forming a very strong bullish flag formation on daily charts. There is just one small hurdle around that 200 day moving average which is around 40 to 50 or Rs 43. If it crosses that, we should see the stock probably spurting up to levels of Rs 48 and Rs 49. From a trading perspective these two stocks looks very attractive," he said. "Opto Circuits has rallied 30-35 percent. In terms of technical it is just a bounce, probably the bounce could last for couple of days more. My sense is that the flavour as of now for the last couple of days have been midcap and I think it could continue to be midcap for the rest part of the week."