Buy Godrej Ind, Adani Enterprises, Berger Paints: Bothra

In CNBC-TV18's popular show Bull's Eye, Kunal Bothra of LKP shares his trading strategies for the day.

One can buy Godrej Industries with a target of Rs 280 and a stoploss at Rs 270. The stock is bouncing from 50 day moving average and also good volumes were seen yesterday. If one looks at the retracement from the last one month where the stock has rallied from Rs 200 odd levels, it has already retraced by 50 percent yesterday and it has completed that move so now there is a high probability that the stock could resume its sharp uptrend.

One can buy Adani Enterprises. It is an interesting stock because last couple of days it has been moving sideways. However, yesterday it made a new swing high. Look at the last two weeks of sideways performance. Interesting part about yesterday's close was that it managed to close above 50 day moving average and that has happened since the last three months. I think in the month of July it was the first time it closed above 50 day moving average. It happened yesterday as well. It is a good sign building up for a short-term trend of the stock. I have kept a target on Adani Enterprises at Rs 163 with a stoploss at Rs 155.50.

One can buy Berger Paints India with a target of Rs 228 with an extremely tight stoploss of Rs 220. There is a chance, a high probability that Berger Paints is forming an inverse head and shoulder formation. It is exactly at those previous support trend lines of Rs 220 odd levels and if it could bounce from here then one could see a sharp bounce coming in Berger.

One can buy Reliance Communications (RComm) with a target of Rs 158. The stock does not require any sort of technical explanation because it has been moving in a sharp and strong uptrend. However, for the last couple of days it was moving sideways after hitting its all time high of 52 week high but now the consolidation process seems to be getting over, volumes are picking up slowly and gradually and yesterday also the stock managed to close above Rs 152-153 level which was a good sign.