Buy Asian Paints, Britannia, PNB, BF Utilities, Birla Corp, Axis Bank: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "I have an all buy list. I think the selling side was in pharma couple of days back but now it is not the best risk reward equation to take fresh short trades. I have five buy calls, the first one is Asian Paints. Clearly stocks which have made fresh highs, gone past the earlier highs should see more momentum. So that is a buy with a stop loss below Rs 1,078, look for Rs 1,140 as the near-term target."

"Britannia Industries and the entire fast moving consumer goods (FMCG) pack was looking good yesterday. So, I picked up Britannia as a swing breakout trade. Buy with a stop loss below Rs 3,444 and look for Rs 3,550 or thereabouts as the first short-term target," he said.

"Punjab National Bank has a good set up, a good swing breakout, a very strong intraday indicator set up. So, I would buy this one with a stop loss just below Rs 158 for target of around Rs 168-169."

"Two midcap names, BF Utilities has had a very good breakout towards the last hour of the trade yesterday. So, that is a buy with a stop loss at Rs 457, look for target of Rs 500. Birla Corp had a gap breakout yesterday, I would buy this one with a stop loss below Rs 750 for target of Rs 815."

"I would want to buy Axis Bank before the results as well. There is some kind of a contracting pattern breakout. So, maybe buying into the 520 Call option for the month of April could be a good trade over here. The other thing is that with this breakout, as long as we remain above Rs 500-505, I would look for target around Rs 560 if somebody is taking a futures trade," he added.