Buy Dishman Pharma, target Rs 400: Kunal Bothra

Kunal Bothra, Head of Advisory at LKP told CNBC-TV18, "IT and pharma are the ones which are getting thumbs up in the market. I think HCL Technologies seems to be forming some interesting short-terms chart patterns. It is clearly a very short-term trade because the stock or the overall trend still does not seems to be favourable as such." "From trading perspective the short-term charts are forming a bullish flat pattern. The neckline breakout was closer to Rs 865-866. The fact that HCL Tech is trading above those levels with decent enough volumes, I sense that it could probably give a short-term upside looking at a target of Rs 898 keeping a stop loss of Rs 855," he said."One can buy Dishman Pharma. I sense that this stock is actually going through a good period of consolidation after a rally of almost 30 percent over the last couple of weeks. In the last two and two and half odd weeks it is going through a band of 10 percent consolidation support with Rs 380 as the top and Rs 340 more or less as the base," he added."I sense that once this consolidation gets over, keeping Rs 340 as a stop loss would be a good entry point for Dishman Pharma for anyone who has missed out on the rally. I believe a target of at least Rs 400 over the next couple of weeks is possible on the stock."