Moneycontrol
Aug 25, 2016 11:48 AM IST | Source: CNBC-TV18

Buy Sanghi Industries, Axis Bank, Natco Pharma: Mitesh Thacker

According to Mitesh Thacker of miteshthacker.com, one can buy Sanghi Industries, Axis Bank and Natco Pharma.

Mitesh Thacker of miteshthacker.com told CNBC-TV18, "From a trading point of view, what interests me is Aurobindo Pharma. The other stock is Divis Laboratories. It has been making newer highs, clearly showing outperformance as well as strong trend on the upside. So any declines, any corrections should be bought into Divis. We are looking at positional targets of around Rs 1,420 to about Rs 1,450 in the next 6-8 weeks."

"HCL Technologies is the only stock, which is slightly better placed. I would want to see the stock get past Rs 804-805 that being the 200-day moving average (DMA) and we can then look at more than Rs 830 kind of targets," he said.

"Sanghi Industries has made a fresh 52-week high, it has broken out of a good range of Rs 75 to about Rs 65 in the last three months and on a broader chart, bigger range of Rs 45 to Rs 75 has been broken. I would look at targets of around Rs 105-110 over here. Buy at current level, any dips to about Rs 78-77, add more and keep a stop loss below Rs 74."

"Axis Bank is one of the stocks which is there in my list and Jubilant Lifesciences is one stock which after 2-3 days of consolidation is breaking out. This could be a good momentum buy if you are trading with a 1-2 days perspective. Buy with a stop loss of Rs 519 for targets of around Rs 545 to about Rs 550," he added.

"Natco Pharma has been making newer highs. Another fresh breakout has been triggered over here. I would be a buyer with a stop loss at Rs 665 or thereabouts and look at targets close to about Rs 750."

"Wockhardt is reversing from lower levels but the stock which I have picked up is Cadila Healthcare which is showing good strength and trying to get past Rs 380, buy above Rs 380-381 and keep a stop at Rs 374. From a short-term point of view, I would look at targets of around Rs 395-400."

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