UPL, and are three stocks on which independent market analyst Kunal Bothra is bullish on for this week. Edited excerpts:

India VIX has cooled off and in fact has slipped below the 16 mark. How do you see the volatility in the near term and at what levels could we make that decisive move towards 18000 on the Nifty in the week to come?

I think it is just a matter of maybe a couple of trading sessions before Nifty hits the 18K mark but that is not the point of the market trend. The market trend indicates that there have been a variety of changes which we have seen in the last 10 days.

Right from the mid-September period when the Nifty had made a comeback towards the 17400-17500 zone we have traded in the band of 500 points. So I think we can say that the market or the index is still within a range.

The Nifty is trading in this 500-550 point band with 17,400 acting as a support and 17,950 acting as a resistance. With regards to the Bank Nifty, I think we are yet to see some confirmation of a breakout above the 38000-38200 mark.

But the manner in which the market has made a strong comeback across the board is just about exemplary because we have seen two different patterns for the India volatility index.

Initially when there was a slight tinge of the market getting into a nervous corrective zone, the India VIX had jumped up towards almost 19.5 to 20 levels.

I think from there to the levels which we have seen in the previous week there has been a steady decline in the VIX which means that the sentiments of market traders is not as spooked as what it was a couple of weeks back.

So I think looking at the way global markets have panned out and considering the domestic factors I believe it is not just about hitting the 18K mark but I think the market is setting up for going beyond that as well.

What are the stocks you are looking at which could be in focus next week?

I suggest three buy calls for the next week. I feel investors should focus more on the banking names. The first stock which I am suggesting is a buy on Bank of Baroda for a target of almost Rs 100 and the stop loss can be kept at Rs 84.

The second stock that I am bullish on is UPL. The stock is making a comeback and we have seen signs of multiple bullish divergences for

on the hourly charts. I am sensing that a good base has been set up and built for the stock around the 700 mark. So I suggest the next level of targets for UPL could be at 800 levels. Investors can expect good risk reward play from current juncture for UPL and buy the stock with a target of Rs 800 and the stop loss can be kept at Rs 716.

The third stock that investors can look at is IndusInd Bank. The stock is inching towards a big breakout. I believe the stock could probably head towards targets of Rs 1300 plus and the stop loss for this trade could be kept at Rs 1120 mark.