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

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

Technical Analyst Mitesh Thacker of miteshthacker.com is bullish on Chambal Fertilisers, Federal Bank, Rashtriya Chemicals and Fertilizers (RCF), Sasken Communication and Vijaya Bank.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Stocks in news: Aban, Mindtree, Piramal Health, Wipro Sanlam SMC India's stock/sector picks post results ALSO READ See previous views by Mitesh Thacker See what other Experts & Brokerages are saying about Chambal Fert See messages about Chambal Fert Chambal Fert BSE | NSE 29/05/12 Are Mutual Funds betting on Chambal Fert? Other Stocks in this news Federal Bank | Rashtriya Chemicals and Fertilisers | Sasken Communication Technologies | Vijaya Bank | Polaris Financial Technology | HCL Technologies | Wipro | State Bank of India | Tata Consultancy Services |

Technical Analyst Mitesh Thacker of miteshthacker.com is bullish on Chambal Fertilisers , Federal Bank , Rashtriya Chemicals and Fertilizers (RCF), Sasken Communication and Vijaya Bank .

Here are the key levels to watch out for:

Buy Chambal Fertilisers with a target between Rs 68.75-69 per share and stop loss below Rs 62.50 per share.

It was the sectoral comfort which came into play. When all these stocks and sectors start to move and they give us some kind of a technical breakout, there is a lot of comfort in feeding these stocks. Chambal in the short-term can probably head towards the levels of around Rs 68 and long positions can be taken with the stop loss placed around Rs 62.50.

Buy Federal Bank with a target of Rs 314 per share and stop loss below Rs 278 per share.

It is the sectoral play which comes into force over here. We saw a lot of stocks in the banking sector doing very well, lot of stocks going in making new 52-week high. Federal Bank was amongst one of them. We are seeing a good breakout on the charts. According to me, Rs 314 would be a good positional target if somebody is sitting with a four-seven days kind of a horizon and the stop loss here would be around Rs 278.

Buy RCF with a target of Rs 87.50 per share and stop loss below Rs 80 per share.

If you look at the daily price chart, RCF has made a double-bottom formation taking support on its 200-day average at the levels of around Rs 76-77. Yesterday we saw a very good price action giving some kind of a short-term upmove in place. The first target for this stock price on the upside is around Rs 87.50 and the stop loss here would be around Rs 80.

Buy Sasken Communications with a target of Rs 202 per share and stop loss below Rs 186 per share.

It has given some kind of a breakout on charts. With a lot of buying happening in the cash segment, we saw a very good jump in delivery volume numbers. I believe Rs 202-203 is the 52-week high for this stock and it looks very likely that the share price will probably test that in the next few days. So that is the target on the upside and the stop loss here would be just below Rs 186.

Buy Vijaya Bank with a target betwen Rs 55.5-56 per share and stop loss below Rs 50 per share.

This is another one from the banking sector. I am looking for targets of around Rs 55-56 in the short-term and the stop loss here would be around Rs 50.