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Buy Adani Ports, Bata; Titan may test Rs 580, Bajaj Auto Rs 3020: Mitessh Thakkar

Mitessh Thakkar of suggests buying Adani Ports and Bata India and feels that Titan Company may test Rs 580 and Bajaj Auto Rs 3020.

June 05, 2017 / 01:06 PM IST

Mitessh Thakkar of told CNBC-TV18, "First one is a buy on Adani Ports, getting past the earlier highs of Rs 360. That is a buy with a stop loss at Rs 355, look for Rs 380 as the target. Bata India has given some intraday signals, it is a buy with a stop loss at Rs 548 and a target of Rs 585 is what I would suggest."

"We will see definitely higher levels for Titan Company in the next one and a half to two weeks and I would peg targets of around Rs 575-580 in the short-term. The way to approach this could be possibly now that you have already miss the bus if you are entering at 15 percent higher could be to possibly do some option related strategies, buy into a 540 Call option for the June expiry, that will be a good trade or wait for some intraday declines, if not today maybe tomorrow, I think an entry point around Rs 530-525 could be excellent. You can even do covered calls - buy future and sell Calls, that will also be good way to participate on the upside," he said.

"I will keep a stop loss at Rs 2,880 on Bajaj Auto and look for target of around Rs 3,020 on the upside," he added.
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