Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "Asian Paints is on the verge of breaking beyond the earlier highs of Rs 1,170-1,175. So if it breaks past Rs 1,178 today, I would be recommending a buy at Rs 1,160 for a target of Rs 1,225."
"Gruh Finance has had a fresh breakout, fresh highs, very positive set of indicators there. So buy with a stop loss at Rs 504 and look for Rs 560 kind of a target. HUDCO has given some kind of a gap based breakout yesterday. So, that could be bought with a stop loss at Rs 80.50 for a first target of Rs 90."
"My final buy call is on National Aluminium Company (NALCO) where we have seen a good candlestick and price volume breakout. So buy with a stop loss at Rs 70 and look for Rs 77.50 kind of target," he said.
"One sell call, that is on Bharat Forge. It has made some kind of bearish candlestick pattern. So, sell with a stop loss at Rs 1,147, and look for declines possibly to levels of Rs 1,090."
"I think it is definitely time to go long. We have been trading on the long side for last few days; it is more of midcaps, but I think largecaps could make a comeback. Reliance Industries and Reliance Capital are I think two stocks which are clearly looking very positive."
"I have in fact two midcap stocks on my radar which have given very strong opening signals on the buy side. Apart from that, I had highlighted Asian Paints in the morning that if it gets past Rs 1,175-1,180, that will be fresh all time high and breakout. I think that has happened."
"However, that apart my trading calls are BEML that is a buy with a stop loss at Rs 1,804 and target of Rs 1,890. Indiabulls Real Estate is another stock which after a consolidation is looking on the upside. So that has moved up already, but try to buy around Rs 243-244 mark with the stop loss at Rs 237 for target of Rs 260."
"HUDCO looks very good and Rs 90 is only first target. I do suspect eventually it could retest the recent and the all-time highs of Rs 100-102 on the upside. DLF also on the intraday or immediate basis charts, I think it is a good breakout there. So, I would be a buyer there with a stop loss below Rs 185."
Disclaimer: Reliance Industries Ltd. is the sole beneficiary of Independent Media Trust which controls Network18 Media & Investments Ltd
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