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Oct 17, 2016 11:23 AM IST | Source: CNBC-TV18

Sell HDFC Bank; GAIL India may head higher: Mitesh Thacker

Mitesh Thacker of recommends selling HDFC Bank and feels that GAIL India may head higher.

Mitesh Thacker of told CNBC-TV18, "I have a technical opinion on GAIL India. It has started some kind of a medium-term to longer-term uptrend. We have been very positive for the last few days and I would look at targets close to about Rs 465-470 to begin with in the next few weeks and possibly even higher levels."

"L&T Finance Holdings is something I would wait and watch. I do like the stock but maybe after having seen very strong rally on Friday, on a pullback would want to buy this one. Currently, I would recommend selling into HDFC Bank. The stock is slipping below key moving average at about Rs 1,260 level. So keeping a stop loss at Rs 1,265, I would want to look at targets of around Rs 1,220," he said.

"The other stock is Amara Raja Batteries, some intraday break down is over there. So even if it breaks Rs 1,028, maybe then short with a stop loss at Rs 1,042 for targets of around Rs 1,000."
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