Jay Purohit, technical analyst, Angel Broking has recommended trading strategies for Karnataka Bank, NTPC and L&T Finance Holdings. He gave following rationale for technical strategies: 

1. Karnataka Bank 
View: Bullish
Last Close: Rs 136.70

''On Jun. 22, 2015, the stock had given Falling Trendline breakout with healthy volumes. The stock then rallied sharply and made a new two year high at Rs 156.10. But, due to below than expected quarterly result, the stock has seen decent correction in last week. At current juncture, the stock is trading around the apex point of Rising and Falling Trend lines, which coincides with the Daily 100 EMA. On oscillator front, the RSI is moving around its strong support of 38-40 levels. Considering the current chart structure, we are expecting resumption of the uptrend in the stock.  Thus, we advise traders to buy this stock in a range of Rs 134 to Rs 136 for a target of Rs 150 in coming 2-3 weeks. The stop loss for this trade set up can be kept at Rs 129.''
 
2. NTPC
View: Bullish
Last Close: Rs 137.05

''The stock is consolidating in the broader range of INR 128 to INR 141 from last two months. We are observing a formation of a bullish harmonic pattern called Bullish Butterfly in the daily chart, whose potential reversal zone is placed at Rs 129-Rs 132 levels. At current juncture, there is a chance of formation of an Inverted Head & Shoulder pattern in the daily chart, which is a reversal chart pattern. The RSI-smoothened oscillator is moving well above its trendline breakout area, indicating strength in the counter. Looking at the current price action, we are anticipating a breakout of the Inverted Head & Shoulder pattern. Thus, we advise traders to buy this stock in a range of Rs 134 to Rs 136 for a target of Rs 148 in upcoming weeks. The stop loss for this trade set up can be kept at Rs 128.''

3. L&T Finance Holdings Limited
View: Bullish
Last Close: Rs 68.20

''Recently, the stock had given breakout from the Falling Trendline adjoining the highs of Mar. 13, 2014 and Nov. 19, 2014 in the daily chart. The stock opened with the upside gap on the Jul. 07, 2015 (breakout gap) and closed with healthy gains with remarkable volumes, which further validated the breakout.  But, post the quarterly numbers, the stock has started correcting and fell by around 10 percent off recent highs. Currently, the stock is trading around the gap area in the daily, which coincides with the trendline support and the 50% retracement level of the entire rally from Rs 59.45 to Rs 74.95. The 89 week EMA is also placed around the same support area of 67 levels. On the oscillator front, the Stochastic is moving in extreme oversold territory in the daily chart; indicating reversal on cards. The current chart structure depicts that the stock has multiple support at 67-68 zone. Thus, we may see sharp bounce back in the stock. Hence, we advise traders to buy this stock at current levels and on declines to Rs 67 for a target of Rs 74. The stop loss for this trade set up can be kept at Rs 65.''

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