Sell United Spirits, UPL; buy India Cement: Kunal Bothra

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

First stock for the day is a sell on United Spirits. This stock yesterday managed to close 7-7.5 percent down and in terms of technicals it broke the 200-day moving average, which I believe could be a sign of further weakness lined for the stock, because generally the stock trending below 200-day moving average could probably see further sharp correction in the next couple of days. My target for the day is Rs 2,250 with a stop loss at Rs 2,500.

Second stock for the day is a sell on UPL. This stock was trading above 50-day moving average. Yesterday and day before it managed to take a bounce above the 50-day moving average probably showing some bit of resilience over there. My sense is that stock would probably drift towards Rs 180 levels and further below. My target for the show today is Rs 183, stop loss is extremely tight at around Rs 190.

Third stock for the day is a buy on India Cements. This stock managed to form a bullish candle formation yesterday. On the weekly charts till yesterday it was forming a bullish hammer kind of a pattern and my sense is that if yesterday's low does not get breached then you could probably see a short-term uptrend for the stock. My target for the day on India Cement is Rs 53 and stop loss at Rs 50.50.