Buy Colgate, Bharat Forge; sell Andhra Bank, Amara Raja Batteries: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "Buy Colgate Palmolive, it is a 52-week fresh high for the stock. I would buy with a stop loss at Rs 1,123 for target of Rs 1,195. The Ramco Cements is a conditional buy. I would want to see the stock get past Rs 735-740 zones and then buy. Keep a stop loss at Rs 722, look for a first target of Rs 780. Bharat Forge was in news yesterday, there is some kind of big gap up opening and then a mild taper off but the gap reversal still holds. So, buy with a stop loss at Rs 1,139 for target of Rs 1,195."

"Andhra Bank is a sell with a stop loss at Rs 53.10 for target of Rs 48 and Amara Raja Batteries appears to be resuming the downtrend. So, sell with a stop loss at Rs 802 for target of Rs 740," he said.

"Larsen and Toubro (L&T) has opened gap up, I would want to see some strength beyond Rs 1,145-1,150 mark but I think that is showing early signs of a reversal and yesterday’s high could be a good stop loss. The other one is Tata Chemicals. It had a big breakout towards the end of the session yesterday. That could be a good buying opportunity. Let it come down by about another 5-6 points and keeping a stop loss below Rs 600, I would want to buy that."

"L&T with a stop loss at Rs 1,129, target of Rs 1,180 and Tata Chemicals is something which I think would see follow up in the next few days. So would recommend a buy with a stop loss of Rs 598 for target of Rs 660."