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Buy Apollo Tyres, Ceat, Adani Ports, Bharti Infratel, Maruti Suzuki: Mitessh Thakkar

Mitessh Thakkar of suggests buying Apollo Tyres, Ceat, Adani Ports, Bharti Infratel and Maruti Suzuki.

July 04, 2017 / 11:27 AM IST

Mitessh Thakkar of told CNBC-TV18, "There are very strong breakouts on most of the tyre stocks. I have two of them as my buy recommendations. The first one is Apollo Tyres, where we have seen good intraday signals, so I would buy that with a stop loss at Rs 247. Look for target of Rs 270 and Ceat as well, very similar set up to Apollo Tyres, that is a buy with a stop loss at Rs 1,820 for targets close to about Rs 1,950."

"The other three calls that I have are also on a buy side. Adani Ports bounced back from a very strong support zone of around Rs 360, so keep a stop below Rs 359.50 and look for targets close to about Rs 390 there. Bharti Infratel had a very good swing breakout, managed to finally get past Rs 390-392 zone. So keeping a stop at Rs 389, this is a buy for target of Rs 415. Maruti Suzuki amongst the auto pack is suggesting continuation signals on the upside, so the trend should extend on the upside and I would look at now targets of around Rs 7,500 and buy this one with a stop at Rs 7,270," he said.

"I would continue backing the tyre stocks and the auto stocks. I like TVS Motor as well as Hero MotoCorp. So I think two-wheelers should also see positive price action apart from Maruti Suzuki, which is the trading call and tyre stocks should do very well. Some of the consumer names look very appealing. Marico could be breaking into fresh highs finally beyond Rs 325 and that could be an interesting trade apart from ITC and HUL."

"I would want to see Reliance Industries stabilise above Rs 1,405-1,410. Once it does that, there is a good chance that we will look at Rs 1,430-1,440 being tasted. Having said that, the other stock which has come into my focus is Jubilant Foodworks. It is showing good continuation from breakout yesterday and I would look at targets close to about Rs 1,070 over there."

"Buy Shriram Transport Finance with a stop of Rs 1,018, look for target of Rs 1,090 and Tata Elxsi is a buy as well. Keep a stop at Rs 1,620 and look for targets of around Rs 1,730. We have recommended both these stocks to our clients, so we have interest in them," he added.

Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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