Mitesh Thacker's top 5 picks for today's trade

This is one stock which appears to have gone through a corrective movement. This stock made a high of around Rs 1,640-1,650 and then went down to as low as Rs 1,450-1,400 levels. I believe that now the stock is on its way to bounce back and is getting back into its uptrend. A test of recent highs of Rs 1,640 is very likely.

After a lot of weakness in the price we are seeing some kind of a bounce back happening on the back of rising volumes. I think the stock will give a proper bounce back probably test short to medium-term average placed around Rs 190.

The clear objective here is to get into a stock which is been showing good out performance. This is one stock which is gone into an all time high. It is consolidated and is now like it will breakout of those levels. So at levels of Rs 385, which is the highest daily closing the stock has ever recorded. I would take a slightly position call over here.

Over here the call is that the bigger picture still looks very weak. We have seen a good bounce back happening and now it's getting or facing good supply from short-term averages. So as long as the stock does not move beyond the levels of Rs 800 to Rs 805, the stock will remain weak with a good possibility of retesting the recent lows of around Rs 720.

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