Buy L&T, Bajaj Finance, Avoid HCL Tech: Pradip Hotchandani

Pradip Hotchandani, head research at Prudent Broking Services, expects some correction in stock markets after the recent run-up. The Nifty can fall to 8,470-8,450 in few days, he said last week. (Watch)

Stock Talk 

Buy L&T: The stock has a decent support around Rs 1,400. Buy for a target of Rs 1,880. 

Buy Bajaj Finance: Given the fact that the stock has given a vertical up move recently, the stock may fall to Rs 9,400 level, but the overall trend remains positive in Bajaj Finance. 

Buy Voltas: This is one of our preferred bets in the capital goods space. Buy the stock for a target of Rs 425 with stop loss at Rs 328. 

Avoid Wockhardt: The stock continues to be in down trend. It has to take out Rs 1,040 on the upside for a trend reversal. 

Avoid HCL Tech: Although the stock has shown decent recovery recently, it has medium term resistance around Rs 860-870. This levels needs to be taken out for a bullish trend to resume. 

Avoid Jet Airways: It has crucial support around Rs 567, below which the stock can fall to Rs 510.