Voltas has target of Rs 140, says Kunal Bothra

Voltas has target of Rs 140 and PFC is showing bullish pattern, says Kunal Bothra, Sr. Technical Analyst, LKP.

Bothra told CNBC-TV18, “Couple of midcap stocks which catch the eye at this point and I would again go with the momentum of the market. Some of the stocks which are in a PFC look very good in terms of the largecap and the midcap space.”
He further added, “Voltas to an extent looks very good on charts. What I am talking of is breakout of medium-term charts which is happening at this point. It is not just the short-term chart or the short-term triggers. PFC and Voltas, Voltas clearly at the break of Rs 120 today which happened - opened a very fresh leg on the upside. I am looking at a target of Rs 140 given a couple of weeks from here maybe three-four weeks and a stop loss of Rs 115 which is a very tight stop loss can be maintained.”
“The other stock which I mentioned is PFC, the frontline stocks and again a very good bullish chart pattern which is forming over here, I would probably wait for a couple of days to trade above Rs 180 barrier- I think if that happens for PFC, one can look at a target of Rs 200 given a stop loss of Rs 160-162 on PFC.” Disclosures: No personal holdings in any of the stocks but at LKP we keep recommending these stocks to our clients.