See 5-6% upside in PTC; Bharat Bijlee may hit Rs 900: Bothra

Kunal Bothra of LKP Securities told CNBC-TV18, “PTC India is one of the few stocks which is looking attractive from a short-term trading perspective. I think the Rs 60 low which it hit on Friday, that low seems to be forming a bullish hammer on the weekly charts as well. I believe from a trading opportunity, you could look at some bit of bounce. I expect the stock specific approach to play out today because it is going to be a difficult week for traders especially for the expiry in the short holiday. So, from a short-term perspective, I would look at atleast 5-6 percent bounce on the stock.” “Bharat Bijlee is going to be an interesting stock because 4-5 days back, when it broke Rs 700, there was false bearish breakdown. The stock reversed back quite sharply. It almost saw a V-shaped recovery. It is already the longer term moving averages and looking at the false breakdown on the bearish charts, there could be change, you may see some good momentum picking up. The volumes for the last two months have been exceedingly good for the stock which indicates that it is forming a longer bullish pattern on the medium-term as well as the longer-term timeframe charts,” he said.

“The stock could probably come back above its previous swing high. The level of Rs 900 is the target which I am looking at on Bharat Bijlee keeping a stop loss of Rs 840.” “The sugar pack especially led by Balrampur Chini, Dhampur Sugar, etc are doing pretty good. Balrampur Chini is almost closer to its swing high and the shorter-term chart patterns are indicating a bullish penant. A lot of stocks in the midcap space are already above the longer-term moving averages. Blarampur Chini is no exception. On Friday also, it managed to close with very good momentum and volumes. So, I expect the momentum to continue today as well. I would look at a target of at least Rs 92 on Balrampur Chini keeping a stop loss of Rs 87.” He further said, “From the midcap space, Arvind looks good. On the hourly charts, it has given a swing breakout. I would look at atleast Rs 326 as an intraday target on Arvind.” “I think Infosys is slowly and gradually establishing some good supports around Rs 1,120 mark. Over the last six days it has been consolidating, but I see a good swing breakout happening in it. So, that is going to be a largecap which one needs to look at. I would look at even Rs 1,200 as a possible target over the next 3-4 trading sessions.”