Kotak recommends HDFC Bank, Bharti Airtel, Cipla for Mahurat trading

MUMBAI: Kotak Securities has recommended a few stocks that can give traders good returns on Mahurat trading day. These stocks can also be held from long term perspective.

Bharti Airtel

Bharti Artl is expected to have completed its running correction. Support is seen at Rs 345 levels. Technically, it remains our preferred pick in the telecom space considering its relative strength. We expect the stock to bounce back to Rs 425/450 levels in the medium term.

Cipla

Cipla has completed its ABC correction with Fibonacci support at Rs 275. Sustenance above Rs 275 suggests the stocks can test Rs 306 and Rs 326 on the higher side.

Other stocks which we expect to gain with the broader market include Coal India, Cairn and Financial Technologies.

HDFC Bank

HDFC Bank has outperformed the broader market in the recent past. Strong support is seen at Rs 435. Expect the stock to test Rs 500/550 in the medium term.

Disclaimer:

Kotak Securities (KSL) may have proprietary long/short position in the above mentioned scrips and therefore should be considered as interested.

Analyst holding: Nil.

The views provided herein are general in nature and does not consider risk appetite or investment objective of particular investor; readers are requested to take independent professional advice before investing. This should not be construed as invitation or solicitation to do business with KSL.