Buy GAIL India, Kajaria Ceramics; sell HDFC, Reliance Infrastructure, MRF: Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "GAIL India was clearly a stock which had a good breakout yesterday. It opened with a gap and then closed stronger. So, that is a buy with a stop loss at Rs 414, look for Rs 433-435 kind of a target zone. Kajaria Ceramics is the next buy call. It has made a fresh breakout and a fresh high. That is a swing breakout trade, so buy with a stop loss at Rs 718, look for Rs 775-780 kind of a target zone."

"Couple of sell calls – HDFC had some kind of a negative crossovers in the intraday indicator chart. Sell with a stop loss at Rs 1,771, look for Rs 1,720 as the target. Similar set up is happening on the chart of Reliance Infrastructure where the pivot levels have been broken as well. So, I would sell that with a stop loss at Rs 506 for target of Rs 475," he said.

"I have a sell call on MRF, there is some good news on tyre stocks. This chart looks very weak to me, so this is a sell as well, keep a stop loss at Rs 64,750 and look for target of Rs 62,500," he added.

"We have been having a positive stance on the Larsen & Toubro (L&T) for some time now. The targets have been met around Rs 1,250. That is the level where the stock peaked out in July 2015. So, there is a weekly high at about Rs 1,250-1,255 zone. Once it crosses that, I will be more positive and look at targets of around Rs 1,400. So, maybe the next level would come once we stabilise above Rs 1,250."

"Dabur India is seeing some follow up and Kajaria Ceramics is clearly a very strong stock to bet upon. JK Tyre and Industries has had a gap up opening, it should see some follow up. Buy the stock with a stop loss at Rs 155 for target of Rs 170. I have also chosen Steel authority of India (SAIL), as a buy with a stop loss of Rs 61.30 for targets of around Rs 66."