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Oct 12, 2017 11:46 AM IST | Source: CNBC-TV18

Sell Can Fin Home, Cummins India; buy Bharti Infratel, Havells India: Mitessh Thakkar

Mitessh Thakkar of is of the view that one can sell Can Fin Home and Cummins India and can buy Bharti Infratel and Havells India.

Mitessh Thakkar of told CNBC-TV18, "PSU banks are the ones where the trouble looks the biggest. I have Bank of Baroda which is a conditional sell. I would want to see the stock break below pivot levels of Rs 136.50, sell then with a stop loss at Rs 141, look for Rs 127-126 kind of a target."

"Can Fin Home Finance is a sell as well. Preferred range is Rs 2,560 to about Rs 2,575. Slowly take short positions in that range. Keep a stop loss at Rs 2,625 and look for declines to about Rs 2,450. My third sell call is on Cummins India with a stop loss at Rs 912, I will sell for targets of Rs 845."

"I have two buy calls as well, Havells India is a buy, keep a stop loss at Rs 516, look for target of Rs 550. Bharti Infratel yesterday gave a very good signal on the intraday charts, possibly suggesting some continuation of the up move. So, that is a buy with a stop loss at Rs 403.50 for target of Rs 428," he added.

"I would be a buyer in Sun Pharma with a stop loss at Rs 530 for target of Rs 565. Bank of Baroda has the right time to start shorting, go aggressively short if it breaks Rs 136-136.50, add to your short position but even now sell with a stop loss at Rs 141.50 for target of Rs 127."

"I have two buy calls - Britannia Industries has moved up slightly, try to buy it around Rs 4,450 with a stop loss at Rs 4,375, look for Rs 4,650 kind of a target."

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