Mitesh Thacker's top 5 picks for trade today

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Mitesh Thacker's top 5 picks for trade today

Mitesh Thacker of miteshthacker.com is bullish on Bharti Airtel, NTPC and UCO Bank. He advises investors to buy into these stocks. However, Thacker has a sell call on DLF and HDFC Bank.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about Bharti Airtel See messages about Bharti Airtel Nifty BSE | NSE 29/05/12 Are Mutual Funds betting on Nifty? Other Stocks in this news NTPC | UCO Bank | DLF | HDFC Bank | Dish TV | Mcleod Russel (India) | Punj Lloyd | IVRCL | Tech Mahindra | Mahindra and Mahindra | Fertilisers and Chemicals Travancore | National Fertilizers |

Mitesh Thacker of miteshthacker.com is bullish on Bharti Airtel , NTPC and UCO Bank . He advises investors to buy into these stocks. However, Thacker has a sell call on DLF and HDFC Bank .

Here are the key levels:

Buy Bharti Airtel with a target of Rs 344 and Rs 350 per share and stop loss at Rs 322 per share.

It is difficult to predict 100 point gap downs but assuming the 4950-4,930 level holds out, one of the few stocks where traders can look for going long is Bharti. The stock is entering into a short-term outperformance mode and we have seen very good price action yesterday - along with fact that there is positive price pattern developing on charts. In the short-term, the stock can test levels of Rs 343 or even Rs 350 and longs can be taken with a stop loss of Rs 322.

Sell HDFC Bank with a target of Rs 1,595 per share and stop loss at Rs 1,686 per share.

There is a very clear Head & Shoulder formation, which is negative price pattern and the stock price actually broke below the support line or the neckline on Friday. The stock can test levels of around Rs 1,595 over the next few days and shorts can be taken with a stop loss of around Rs 1,686.

Buy NTPC with a target of Rs 235 per share and stop loss at Rs 218.50 per share.

After the spectacular move in the last month, when it went from Rs 210 to Rs 240, the stock appears to be doing nothing but giving a pullback to the weekly averages. So, keeping a stop loss just below that average of Rs 219 would be a good long trade on the stock and the upside targets could be around Rs 235.

Sell DLF with a target of Rs 330 and Rs 322 per share and stop loss at Rs 352 per share.

In the short-term the entire realty sector - the BSE Realty Index as well as the individual components - look weak. The sector is also entering into some kind of underperformance mode. This could be a good sector to have some kind of short-term exposure upon. DLF can probably test levels of around Rs 330-322 in the next couple of days and short positions can be taken with a stop loss of Rs 352.

Buy UCO Bank with a target of Rs 65-66 per share and stop loss at Rs 58 per share.

We have been positive on the stock for quite a few weeks now. The long-term charts look very interesting. Also, the weekly and monthly charts still remain very strong. This could be a good stock to buy on declines.

Recently, the stock tested the support of around Rs 59-58 and bounced back from there. So that is the stop loss below Rs 58. In the short-term, it could test 52-week highs of around Rs 66.