Buy Colgate Palmolive, HDFC; short Allahabad Bank: Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Colgate Palmolive is a buy with a stop loss of Rs 1004 target of Rs 1050."

"HDFC is also a buy with a stop loss of Rs 1584 for target of Rs 1625," he said.

"If somebody wants to take a position, Allahabad Bank and Andhra Bank are both breaking into fresh swing lows in the last few days. If you take the last three weeks of data, I think they are making fresh lows. So, in Allahabad Bank I would be comfortable shorting, keeping a stop loss just about Rs 73.50 and I would play for target of around Rs 64-62 over there."