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

Technical Analyst Mitesh Thacker is bullish on Bajaj Auto , Aban Offshore , Reliance Communication and Gas Authority of India Limited (GAIL). However, he is bearish on Educomp  and advises investors to sell the stock.

Here are the key levels to watch out for:

Buy Bajaj Auto with a target of Rs 1,650 per share and stop loss at Rs 1,459 per share.

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.

Buy Aban Offshore with a target of Rs 1,340 per share and stop loss at Rs 1,264 per share.

The stock has been able to cross above short-term averages and is very likely that the upmove will continue. Probably, test levels of around Rs 1,340 will be in the short-term.

Buy Reliance Communication with a target of Rs 190 per share and stop loss at Rs 172.50 per share.

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.

Buy GAIL with a target of Rs 425 per share and stop loss at Rs 369 per share.

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.

Sell Educomp with a target of Rs 720 per share and Rs 690 per share and stop loss at Rs 803 per share.

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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