Buy Tech Mahindra, HCL Tech; sell Century Tex: Kunal Bothra

Kunal Bothra of LKP told CNBC-TV18, "One can buy Tech Mahindra. From the IT space it makes sense to try and park your money into defensives and probably IT is one of the key sector in terms of defensives. I think Tech Mahindra, the fact that it is flat, even in a market which is in a complete turmoil, I think is a good sign. I am looking at a target of at least Rs 2660 on Tech Mahindra with a stoploss of Rs 2570."

"Second is a buy on HCL Tech. I believe that this is an attractive level to look at HCL Tech from a short term trading perspective with a target of Rs 1630 and stoploss Rs 1540," he added.

"One can sell Century Textiles. The stock has broken its previous swing bottom. It is trading below the 200-day moving average as is the case with most midcap names. I think this could see a little bit more downside. Target is Rs 500 with a stoploss of Rs 522."