Oct 19, 2016 09:50 AM IST | Source: CNBC-TV18

Buy Larsen & Toubro, SBI, Wipro: Mitesh Thacker

Mitesh Thacker of miteshthacker.com recommends buying Larsen & Toubro, State Bank of India and Wipro.

Mitesh Thacker of miteshthacker.com told CNBC-TV18, "Amongst the largecap index stocks, Larsen and Toubro (L&T) had a very strong bar reversal pattern. So I think the short-term upmove could see prices head towards Rs 1,525, possibly Rs 1,540 and this can be a buy with a stop loss below Rs 1,470."

"State Bank of India (SBI) is trying to come out and negate a bearish pattern. So that should lead to some kind of a further short covering rally. I would look at targets of Rs 268 and recommend a short-term buy with a stop loss at Rs 252," he said.

"In Wipro, may be short covering pullback should happen. Look at the short target of around Rs 495 and buy with a stop loss below Rs 477."

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