Jan 11, 2017 11:51 AM IST | Source: CNBC-TV18

Buy Tata Motors, Zee Entertainment, Tata Sponge: Mitesh Thacker

Mitesh Thacker of suggests buying Tata Motors, Zee Entertainment and Tata Sponge.

Mitesh Thacker of told CNBC-TV18, "Tata Motors has been one of the recommendations, I have been advocating targets of around Rs 535-540. So, somebody who wants to buy afresh, could do so, keep a stop loss just below Rs 505."

"Zee Entertainment is showing signs of continuation. So keeping today's low as stop loss, that could be a good trading bet for targets of around Rs 485," he said.

"I am quite negative on Petronet LNG. It is not showing strength today as well. Good levels to go short here. Keep a stop loss at Rs 370, look for targets of Rs 350 or thereabouts."

"I am buying Zee, so around Rs 474 that can still be bought. Keep a stop loss at Rs 468 and look for Rs 486 as the target."

"Amongst the metal related names, I have got Tata Sponge from the midcap side, which has given a good break out. So, that is a buy with a stop loss below Rs 600 while Rs 660-665 could be good target."

"My sense is that if MRF can get past Rs 54,000 - Rs 53,900 being the highest ever closing which the stock has done, then we are in for at least Rs 59,000-60,000 as the minimum. This is clearly a start of a fresh trend and I would want to see the stock close above Rs 54,000 today."
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