Prefer J&K Bank; buy ICICI Bank: Kunal Bothra

Kunal Bothra of LKP Securities told CNBC-TV18, "Jammu and Kashmir Bank, couple of days back hit a low of Rs 80-81. Apparently it is taking support on the 20-day moving average (DMA). If you look at the Bollinger band in terms of technical daily charts, it is taking support exactly at the median of the Bollinger band. It is trying to hit the upper end of this band once again.""The volumes on the crucial parts, which I believe, should probably be one of the key indicators to try and indicate a reversal for the stock. It is also trading above 50-day moving average (DMA) except for a couple of days yesterday and day before. So I believe that this stock has probably potential to come back again.""Today also we are seeing some good signs in the first half an hour or one hour trading that the stock is managing to hit that upper end of the band of Rs 85-86 levels," he added."I believe from a trading perspective, we could look at a target of at least Rs 90 but as I said that the chart potential is extremely strong and if the move unfolds over the next couple of days, volatility in the markets, the stock could probably hit that triple digit mark as well over the next couple of weeks. That is one of the stocks which we are looking at keeping a stop loss of Rs 81.""I think yesterday the chart of ICICI Bank was bullish hammer pattern. The stock is taking support around Rs 243-242 mark. So I am looking at a buy in the stock, a very contrarion perspective. I would look at a target of at least Rs 256 on ICICI Bank keeping a stop loss of Rs 239," he said.