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Nov 10, 2017 12:10 PM IST | Source: CNBC-TV18

Buy Ujjivan Financial Services, L&T; sell Eicher Motors, Chennai Petroleum: Mitessh Thakkar

Mitessh Thakkar of is of the view that one can buy Ujjivan Financial Services and Larsen and Toubro and can sell Eicher Motors and Chennai Petroleum Corporation.

Mitessh Thakkar of told CNBC-TV18, "I have a buy on Ujjivan Financial Services. Keep a stop loss at Rs 381 and look for target of Rs 405. It has managed to get past this Rs 380-381 zone after a long time."

"Larsen and Toubro (L&T) is breaking above key levels of Rs 1,250-1,255. So that is a buy as well. Keep a tight stop loss at Rs 1,239 and look for a first target of around Rs 1,300."

"One sell call, that is on Eicher Motors. I would keep a stop loss at about Rs 31,100 and look for declines to about Rs 29,700."

"I have a trading sell on Chennai Petroleum but with targets of around Rs 425 or thereabouts. It is also very important support zone. So, keep a stop loss below Rs 425 and if it does not break and bounces back from there, this bounce back could see the stock head towards Rs 460 again which should be an exit area," he said.

"I think given the fact that the overall indicator setup is now turning slightly negative, I think the stock will now see more pressure on kind of rallies," he added.
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