Buy Bata India, Bharat Electronics; like Godrej Industries: Mitessh Thakkar
Mitessh Thakkar of miteshthacker.com is of the view that one can buy Bata India and Bharat Electronics and likes Godrej Industries.
Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Bata India has been in a range of Rs 513 to about Rs 490 for the last two and a half-three weeks and today with the gap, I do expect Rs 513 should be taken out. So anything around Rs 515-516 would be a good buying opportunity if you get it early in the morning. Keep a stop loss at Rs 504 and Rs 535 would be the target."
"Bharat Electronics (BEL) has been a stock, which I have been extremely positive for about last few weeks. It is now showing continuation signals on the up move. So buy with a stop loss at Rs 1,535, look for target of Rs 1,625. Bharti Airtel will open gap up, so if we get a slightly lower gap over there, it is a low beta stock, so at Rs 366-367, I would still be tempted to buy this one. Keep a stop loss at Rs 359, look for the first target of Rs 378," he said.
"The other one which I like is Godrej Industries. It needs to break past Rs 497 to start the up move again. It might happen today in the morning. So close to about Rs 497-498 buy this one with a stop loss at Rs 488, look for Rs 520 as the target. Larsen & Toubro (L&T) has a similar structure, good consolidation for last three weeks. It has been in the range of about Rs 1,500 to about Rs 1,470. So if it breaks Rs 1,500, buy with a stop loss at Rs 1,480 for target of around Rs 1,545-1,550," he added.