Kunal Bothra of LKP told CNBC-TV18, "I have a couple of long stocks. I am expecting a bounce either this week or next week. So, that would be the ideal strategy. First is Tech Mahindra, I am looking at a buy on this. It is trading at a very good bullish formation pattern, trading above the 200 day moving average and looking at a target of Rs 1030 on Tech Mahindra with a stop loss of Rs 980-985."
He further added, "The second is a buy on HDFC Bank. On an hourly chart it's forming an inverse head and shoulder pattern. It is a bullish sign for the stock, trading above Rs 820. My sense is the stock can rally to Rs 848-850. Stop loss on HDFC Bank has to be maintained at Rs 810."
"The third is a sell on Reliance Infra. The stock is clearly struggling to hold its previous lows and I think it can drift down to Rs 300-305. Stop loss for Reliance Infra has to be maintained at Rs 330," Bothra said. Also Read: Mahindra Satyam to announce merger details today: Sources
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