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Buy BEL, Hexaware, CONCOR; sell Asian Paints, MRPL, Piramal Ent: Mitessh Thakkar

According to Mitessh Thakkar of mitesshthakkar.com, one can buy BEL, Hexaware Technologies and CONCOR and sell Asian Paints, MRPL and Piramal Enterprises.

August 18, 2017 / 11:58 AM IST

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Bharat Electronics Limited (BEL) is a buy but a conditional buy. It is trading very close to the earlier swing highs of Rs 184-185. So, if it breaks that, if it gets past Rs 185-185.50, I would be a buyer there with a stop loss at Rs 179 for target of Rs 200."

"The second buy which I have is Hexaware Technologies. The stock had a very strong breakout yesterday. So, any pullback to about Rs 275 or thereabouts should be a good buying opportunity. Keep a stop loss at Rs 266, look for targets close to about Rs 290."

"Asian Paints is a first sell call, the indicators are turning negative, so sell with a stop loss at Rs 1,154 for target of Rs 1,090. Piramal Enterprises has bearish candlestick patterns for the last few days, it should most likely slip further. So, sell with a stop loss at Rs 2,766 for target of Rs 2,625. MRPL appears to have completed a pullback of the last two-three days, I would sell now with a stop loss at Rs 125 for target of Rs 114," he said.

"If Kotak Mahindra Bank breaks support of Rs 970-969 then I would want to sell it with a stop loss of Rs 990 for target of Rs 925. Container Corporation of India is a buy with a stop loss at Rs 1,220 and look for target of Rs 1,325."

"For Infosys, around Rs 935-930 is the area where some kind of congestion zone comes in and we have seen the stock on multiple occasion take support around the levels of Rs 915-910. So I think downside may not be there but clearly this kind of fall will cap the upside maybe some kind of announcement on the bounce back price will give stability but around Rs 930-915, I do expect the stock to settle down," he added.
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