Bullish on BPCL, target Rs 1100, buy Tech Mahindra: Rishi Kohli

Rishi Kohli, MD & CEO of ProAlpha Systematic Capital told CNBC-TV18, "Bharat Petroleum Corporation (BPCL) is at all time high. It speaks a lot of strength despite the overall stock market being negative and lacklustre over the last year. However, recently it has broken out of some good patterns on the daily and weekly charts and the monthly signals. For example one being moving average convergence divergence (MACD) is on the verge of being a buy this month which will give further fillip to the stock in the near to medium-term. So, I am bullish on the stock with a target of Rs 1,100 and a stop loss of Rs 965.""Bharti Airtel is looking weak. It is not looking good on the upside but on the short side the stock stands out as a good short for us because it has virtually gone nowhere for many years giving lot of good trading opportunities on both sides of the large range it has formed and recently it has given negative signals on daily and weekly and with the monthly still remaining weak and it can go down easily. So it can go down about 10 percent from here and one can have a small 3-4 percent stop loss," he said."Tech Mahindra is looking good on the long side and it is one of the strongest IT stocks. IT stocks are all over the place, some are lacklustre and some are looking weak. This one stands out. It is looking good; the stock has bottomed out around 50-month moving average around Rs 410 levels and bounced strongly from there in a copy book technical fashion, consolidated and now looks further headed upwards. So would go long on that."