Sell LIC Housing, Tata Global; buy Tata Elxsi: Kunal Bothra

In CNBC-TV18's popular show Bull's Eye, Kunal Bothra of LKP shares his trading strategies for the day.

The first stock for the day is a sell on LIC Housing Finance with a price target of Rs 193 and stop loss at Rs 203. The stock has already made a fresh swing low on the price charts. Also the momentum indicator that is RSI have also made relatively fresh low, so there is a definite amount of weakness which is there probably in the stock. My sense is if Rs 196 gets broken out in a day or two the stock should head towards Rs 190 levels.

The second stock for the day is a sell on Tata Global Beverage. The stock has been trading in a range for the last couple of months. There could be an increase in the selling pressure in next couple of days and you might see some swift price action on the downside. Momentum indicators as well as the volumes are both indicating that you could see some more weakness in this stock. My target on an intraday basis for Tata Global is Rs 137, stop loss at Rs 144.

The third stock for the day is a buy on Finolex Industries. It is one of the few midcap stocks which has managed to close in a positive territory as well as showed some very good signs in terms of volume accumulation. The price action which it showed yesterday probably indicated that there could be some bit of short-term buying happening in the stock. My target for the day for Finolex is around Rs 166. Stop loss is Rs 154.