Moneycontrol
Feb 07, 2017 10:23 AM IST | Source: CNBC-TV18

Buy Glenmark, Snowman Logistics, Suven Life; sell MRF: Thakkar

Mitessh Thakkar of miteshthacker.com is of the view that one may buy Glenmark Pharma, Snowman Logistics, BGR Energy and Suven Life Sciences and sell MRF.

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "I have a mix of buys and sells and couple of buys are on the midcap side. I believe some largecaps could see profit booking. Glenmark Pharma is a buy for me. I think after that gap up post the numbers, the stock is showing continuation pattern. So, that is a buy with a stop loss at Rs 939 for target of Rs 1,000."

"MRF is sell now. It has given some kind of a break down on the short term intraday chart. So, a pullback could happen. Sell with a stop loss just above Rs 51,100 and look for target close to about Rs 48,000," he said.

"On the midcap side, a buy on Snowman Logistics with a stop loss at Rs 59 and look target around Rs 66."

"We also recommend a buy on BGR Energy, it is a slightly more positional type of a call. Buy with a stop loss at Rs 130 and look for target of around Rs 165."

"Amongst the pharmaceutical names, Suven Life Sciences had an interesting break out candlestick pattern yesterday. So, that is a buy with a stop loss at Rs 176 for target of Rs 200," he added.

"Dabur India is kind of breaking down and giving signals of a medium term downtrend. I would start with a stop loss at about Rs 273 and look for a first target of Rs 255." 

"I also have a buy on Wockhardt. A stock which appears to have completed a correction and can give a stronger pullback rally. So, that is a buy with a stop loss at Rs 708 and look for targets close to about Rs 745-750."
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