Buy Coal India on decline: LKP

Kunal Bothra of LKP is of the view that one can buy Coal India on any dips with a target of Rs 380. Tata Chemical can go upto Rs 335.

Bothra told CNBC-TV18, "In the large cap one of the stock which I have is Coal India. It looks fantastic on chart. In terms of technical's today's price move is also very good probably breaking its previous high of Rs 370 levels. I think any dip if it happens to Rs 365 levels from a very short term perspective should be bought into. My target is close to Rs 380 on Coal India keeping a stop loss of Rs 358." He further added, "Second in terms of midcap stocks there are quite a few so I would just name 2-3 midcap stocks. The first is Tata Chemical - it is an excellent chart, Today's breakout is very strong. Inverse head and shoulder or you can probably called it as double bottom, triple bottom kind of a pattern over here - stock trading above 200 DMA. It is currently trading at around Rs 323 so I think anyone who is looking at a week's perspective can play for a target of Rs 335 and a stop loss of Rs 315. The other two stocks which I like in terms of midcap is Titan Industries. A very good stock, in terms of
techncials. Moving out of a range of 3-4 weeks and now it is heading to Rs 245 levels. That is what the target I am looking at. The stop loss should be around Rs 227 on Titan." Disclosures: No personal holdings in any of the stocks but at LKP we keep recommending these stocks to our clients.