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May 18, 2017 04:43 PM IST | Source: CNBC-TV18

Sell Axis Bank, Bajaj Finserv: Mitessh Thakkar

According to Mitessh Thakkar of miteshthacker.com, one can sell Axis Bank and Bajaj Finserv.

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Axis Bank is a sell with a stop loss of Rs 500 for target of Rs 480."

"Bajaj Finserv is also a sell with a stop loss of Rs 4400 for target of Rs 4260," he said."

"This kind of breakdown in CESC suggests that there should be follow up. Even if somebody hasn’t gotten out now, do it. I think the stock most likely is heading towards Rs 790 and maybe below that as well. I think there is more downside left, at least 5 percent more from here and possibly it could expand. This kind of selling suggests that there is very strong supply pressure and this will see follow up in the next few days to come by."

"In fact even if you get a pullback by any luck, if you get Rs 850-855, I think even in futures trade you can initiate a short position with a stop of about 28 points and look for a Rs 790 kind of a target."

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