Buy Federal Bank, GE T&D, BEL, Allahabad Bank: Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Federal Bank is looking good on the hourly chart, so there could be some buying signals as well and amongst the tyre names, we had Apollo Tyres breaking out yesterday. Today it could be Balkrishna Industries, that is showing a good pattern. If it starts getting past today’s high of Rs 1,675 then I would be a buyer with a stop below Rs 1,650 for targets of around Rs 1,720."

"GE T&D is possibly signalling a start of a very significant uptrend and I would possibly put a target of roughly around Rs 440 here to begin with and maybe even higher levels eventually. So I would be a buyer even after a strong opening and keep a stop below Rs 350-349, I don’t think those levels are going to be taken out again and Rs 440 should be the minimum in the next few weeks," he said.

"I have two buy calls. First is a buy on Allahabad Bank with a stop at Rs 73, look for targets close to about Rs 82-83. Bharat Electronics (BEL) is a stock which is showing good traction on the intraday charts. So, buy that as well, keep a stop below Rs 170 and look for Rs 183-184 kind of a target."