Look at JSPL: Kunal Bothra

Kunal Bothra of LKP Securities told CNBC-TV18, "HDFC, HCL Tech and Wipro to a large extent, the charts of which have improved significantly are showing some very good and promising signs because a lot of larger investors rather, they were probably, I would not say stuck in these stocks but they were waiting for some sort of momentum building up into these counters. So it is a good sign that the trend is established once again, the stocks are once again hitting the 52-week high or lifetime high as the case may be. It is a good sign."

"For JSPL today’s move – if you see a follow through happening for at least a couple of days which is possible because the fact that it closed almost at the high point of the day, volumes are exuberant and the open interest built up has been significant. So the follow through is more important for such stocks because if you compare stocks like Suzlon from Rs 17-18 odd levels the follow through was very good," he said.

"Suzlon rallied 40-50 percent and you are seeing a couple of days of correction. So, the follow through is more important for deciding whether the stocks have really come out of that bottom formation and whether the minor uptrend or the larger uptrend could continue in these stocks."