Kaya may test Rs 1440, says Kunal Bothra

Kunal Bothra, Head of Advisory at LKP told CNBC-TV18, "Kaya is recently listed so it is very difficult to really give a very longer-term view. The way the stock probably showed a rally in the start of December odd and from there on went to a period of consolidation, now it is inching back once again. So, my sense is that it is completing a bullish pennant formation and a breakout has already happened today closer to Rs 1,180-1,190 levels.""I believe that the stock could probably inch back and complete the larger pattern which is forming over the last three or four months. I believe that Rs 1,440 is a very strong possible target for Kaya and I would probably keep a stop loss of Rs 1,080 on the same," he said."The potential is very good for Torrent Power, in terms of the longer term moving averages which I generally track and which gives some very strong signals in terms of trend reversals, the stock gave a signal couple of months back. It went into a consolidation but the move has started once again." "The swing higher was closer to Rs 198-200 which it broke recently, so I believe there is much more in terms of potential for the stock with volumes supporting it just adds on more confidence in terms of potential with the stock can actually hold.""I believe that there is much more to go. I would probably have strategy if anyone is missed out I would probably look at an entry point closer to Rs 205-210. This stock dips to that particular price which I think would be a very good entry point."