Kunal Bothra has said that Amara Raja Batteries and BEML are the two stocks he is bulish on.
The first stock which I am recommending at this hour is a buy on Amara Raja Batteries. We have seen that from March first week onwards, when the stock was trading at Rs 810-815 levels, post that we have seen a decent rally shaping up. In this processm it has formed a bullish triangular pattern.
The breakout of this triangular pattern is closer to 880-885 on spot levels and the stock seems to have gathered some decent momentum of late and is broken about this particular price pattern formation.
I believe that now the stock should start a decent sort of an uptrend. Traders could look at a target of at least Rs 925- 930 on Amara Raja Batteries, keep a stop loss of Rs 870 and go long.
The second stock is a buy on BEML. It is a very interesting chart. Over the last two-three months, we have seen a decent recovery shaping up for the stock. However, of late, it was consolidating in a Rs 45-50 band. With the price action on Friday, the stock should have broken this consolidation and should start its uptrend. The volumes also have increased significantly for the stock. So a buy on BEML is what I am recommending at current levels with the target of at least Rs 1440, keep a stop loss of Rs 1320 and go long.