Moneycontrol
Jan 13, 2017 09:41 AM IST | Source: CNBC-TV18

Sell Glenmark; buy Cipla, Cummins, AIA Engineering: Thacker

Mitesh Thacker of miteshthacker.com is of the view that one can sell Glenmark Pharma and buy Cipla, Cummins India and AIA Engineering.

Mitesh Thacker of miteshthacker.com told CNBC-TV18, "In Glenmark Pharma, looks some kind of break down has taken place. So, sell with a stop loss at Rs 902 and look for targets of Rs 860. The rest of them are buy calls. I have a buy on Cipla with a stop loss at Rs 579 for very short target of around Rs 600."

"Cummins India is trading with a very good and positive structure after going through a correction, but it needs to break out above the 200-day average which is around the Rs 849 mark. So, buy this stock if it breaks above Rs 850 and keep the stop loss at Rs 838 and look for target of Rs 880," he said.

"Tata Communications was clearly buzzing with a strong break out from a contracting pattern. Buy it on any declines to about Rs 665-660 and keep a stop loss below Rs 648 and look for targets of Rs 700. AIA Engineering made a fresh break out in a fresh 52-week high; that is a buy with a stop loss of Rs 1,335 for a slightly positional target of Rs 1,550."
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