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Buy CCL Products, DLF, Arvind: Kunal Bothra

Kunal Bothra of LKP Securities is of the view that one can buy CCL Products, DLF and Arvind.

April 01, 2016 / 15:03 IST
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Kunal Bothra of LKP Securities told CNBC-TV18, "I am recommending three long calls. The first one is a buy on CCL Products India. The stock is forming a cup and handle pattern. It is also very close to its 200-day moving average. It is taking support from a lot of short-term indicators as well. So, I sense that a bigger move can actually unfold in CCL, but from a short-term perspective, I would look at Rs 206 as a target and Rs 196 as the stop loss." "The second stock is a buy on DLF. This is an interesting pick because after almost a couple of quarters, the stock has finally managed to come back above its 200-day moving average and given a swing breakout more decisively and trading at the upper end of the Bollinger band as well. So, I sense you could probably see more upside on the stock; Rs 126 is the target on DLF while Rs 115 is the stop loss," he said."In Arvind an inverse head and shoulder is what is am anticipating. The stock almost broke out of the pattern today. So, when it made high of Rs 279 approximately, it managed to just about breakout of that inverse head and shoulder pattern. If it manages to breakout once again over the next couple of days, I would expect a bigger move to unfold in Arvind. I am looking at a target of Rs 300, keeping a stop loss of Rs 260."

first published: Apr 1, 2016 03:03 pm

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