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Buy Bharat Forge, NHPC, Caplin Point; sell Ramco Cement below Rs 670: Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com suggests buying Bharat Forge, NHPC and Caplin Point and has a sell on Ramco Cement below Rs 670.

June 08, 2017 / 11:54 AM IST

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Bharat Forge is a buy with a stop loss at Rs 1,190, target of Rs 1,250. NHPC has come on the list after a long time giving a good pullback now starting an uptrend again. It is a buy with a stop loss of Rs 30.50, look for the first target of Rs 32.50."

"Caplin Point is a midcap stock giving signals of continuation of the upmove. So I would buy that with a stop loss at Rs 545 for target of Rs 600. ICICI Prudential is a buy call. It is a conditional buy, I would want to see the prices get past Rs 425 levels, buy then with a stop loss at Rs 417 and look for target of Rs 445," he said.

"The solitary sell call is on the cement side. It is a conditional sell, I would want to see Ramco Cement’s price break below the pivot support of Rs 673-672. So I have kept a trigger of Rs 670. Sell below that, keep a stop loss at Rs 690 and look for Rs 630 kind of a target."

"JSW Steel is possibly heading towards Rs 210-211 so can be a good buy with a stop loss at Rs 197.50. Tata Steel also looks interesting with a stop loss at Rs 494, can be bought for trading targets of around Rs 525-530."

"On the fast moving consumer goods (FMCG) side, Colgate Palmolive was a good breakout yesterday. We had seen some follow-up today and Godrej Consumer also looks very interesting on intraday charts."

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"Try to buy Tata Steel around Rs 506-507 levels, keep a stop loss at Rs 494 and Rs 530-535 should be the good short-term target. I have a sell call on GAIL India which is breaking down the charts. So I would sell this on the stop loss at Rs 406 and look for Rs 377 as the target."

"Both Jet Airways and Interglobe Aviation have shown some kind of an upward bias. Jet today is seeing continuation of the move of the last three days. I was looking at the price target of around Rs 535 over here. So the rally might have some more legs, another 3-4 percent before we see any kind of profit booking coming in."
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