Short Aurobindo Pharma, buy Tata Chemical: Kunal Bothra

Kunal Bothra of LKP Securities told CNBC-TV18, "In terms of stocks, there are a couple of stocks which are showing signs of cracks. The first one is Aurobindo Pharma. Even though the stock has rallied quite sharply over the last couple of months, but now there are signs that you are seeing some sort of topping formation on the short-term charts in terms of indicators and price volume action as well. So, that is one candidate which one could look at from a shorting opportunity, I would look at atleast Rs 740 as a target on Aurobindo Pharma keeping a stoploss of Rs 822."He further added, "Couple of other stocks which are still looking bullish which generally try and go against the market trends, so if the Nifty is going down and there are couple of stocks which hold their ground, so Tata Chemicals is one stock which looks attractive, it is trading above the 200-day moving average. The short-term chart patterns are quite attractive, so that is one stock which I would recommend for a buy even at these levels. I would look at Rs 440 as a target on and a stoploss of Rs 404.""Buy Divis Laboratories. The stock is just about inching its swing breakout, Rs 1,075. If it closes above Rs 1,075 today, that could be a good buy from a trading perspective. Rs 1,125 is a target which I am looking at and a stop loss of Rs 1,050," he said.