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Buy DLF, Ambuja Cement; Avoid Mahindra & Mahindra: Kunal Bothra

If Nifty breaks above 8,280, the current market rally could extend further, says Kunal Bothra

If Nifty is not able to break 8,280 in the next couple of trading sessions, then markets could see a phase of correction, says Kunal Bothra, senior technical analyst at LKP Securities. However, if Nifty breaks 8,280 on the upside, then the current market rally extend further by 200-250 points, he added.

Stock Talk

Buy DLF: The stock showed a good move on Wednesday and is looking good on technical parameters. After months of stagnation, the stock is showing good signs and investors should buy this stock on dips for targets of Rs 180. Any dip towards Rs 120 should be used as a good entry point in DLF with stop loss at Rs 115.

Buy Indiabulls Real Estate: Investors can buy this stock on correction. Rs 80 will be good entry point in this stock.

Buy Ambuja Cement: Investors can buy this stock at current market price for target of Rs 280 with stop-loss at Rs 232.

Buy India Cements: The stock has potential to cross Rs 125-130. Investors can buy this stock with stop-loss at Rs 102 for immediate target of Rs 125.

Buy Hero MotoCorp: The stock is inching towards a swing breakout on charts. Investors can buy Hero MotoCorp around Rs 3,150 for target of Rs 3,300 with stop-loss at Rs 3,050-3,055.

Buy VIP Industries: The stock has gone through a phase of correction in last 5-6 weeks. Investors can buy VIP Industries for target price of Rs 125 with stop loss at Rs 108.

Buy Lupin: Investors can buy this stock with stop-loss at Rs 1,400 for target of Rs 1,620-1,630.

Avoid Mahindra & Mahindra: For a rally to start in Mahindra & Mahindra, the stock has to break Rs 1,430-1,435 on weekly closing basis. If the stock sustains above Rs 1,430, then only it will be a good buying opportunity. Investors should avoid this stock at current juncture.

Story first published on: June 30, 2016 08:50 (IST)

Tags: Kunal Bothra, Nifty, DLF, Indiabulls Real Estate, Ambuja Cements, India Cements, Hero MotoCorp