Three stock recommendations from Kunal Bothra

economictimes.indiatimes.com:

India Bulls Real Estate is a stock which has given a strong flag pattern breakout on the daily basis. I would suggest a buy with a target closer to 15-16% from closing basis, says Kunal Bothra, kunalbothra.co.in. Edited Excerpts.

There were lots of ups and downs; we ended Thursday below 21,400 levels. Any decisive breach below the psychological levels of 21,000 is likely to weaken the trend going ahead. What are you pencilling in on the indices and what are the levels that you suggest?
It was a bit of a positive ending to the week because the last couple of days had been a bit more torrid for the markets where you had seen a very sharp sell-off, of course, in the underperformance being largely weighted towards the Bank Nifty.

But the last couple of days, specifically on Thursday, we saw the market breath a lot better. In fact, there were many mid-cap, small-cap stocks that were looking fairly attractive. So now this brings into context that the Nifty and the Bank Nifty would probably hold on to their key moving averages support.

For example, the Nifty has over the last two or three days taken support at the 50 DMA, which is placed at 21,000 approximately on the spot levels and the Bank Nifty also, at 44,000 approximately had taken support at the 200 moving average. We saw two days of breach on an intraday basis but on both of those days, we have seen the Bank Nifty recovering and closing not below the 200 DMA, which I think is a very strong sign that possibly the trends may continue to be a lot more stable for the banking names.

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