Buy Canara Bank, IGL, Power Grid; sell Bharat Financial, Cipla: Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "I have a mix of buy and sell calls. The buy call is on Canara Bank, the entire public sector undertaking (PSU) banking space does look like enjoying some kind of a momentum. Canara Bank can be bought with a stop loss at Rs 309.50 for target of Rs 330. I also have a buy on Indraprastha Gas where we saw some kind of a strong intraday buy signals after days of consolidation. So that is a buy with a stop loss at Rs 1,008 for target of Rs 1,070. Power Grid finally is showing coming back to life after some kind of a consolidation and corrective activity. So buy that with a stop loss at Rs 195, look for target of Rs 209."

"Two sell calls, the first is a sell on Bharat Financial Inclusion, which has started trading below the 200-day moving average (DMA). So, sell around Rs 775, keep a stop losss above Rs 800 and look for target of Rs 730. Amongst the pharma names, Cipla is the fresh stock to give a breakdown. So, that is a sell with a stop loss at Rs 593 and I would look for declines to levels of Rs 550," he said.