Buy GNFC, Hindalco Industries, Mahindra and Mahindra: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "The fertiliser stocks had a good price and volume breakout and most of them were buzzing with good price patterns. GNFC is what I have picked up. It is a buy with a stop loss below Rs 465, look for targets close to about Rs 520."

"Amongst the metal names which were also very active, Hindalco Industries appears to be giving a good reversal after a correction. So, buy with a stop loss at Rs 238 and look for a first target of Rs 250."

"A slightly positional cum accumulation call on Mahindra and Mahindra which on the longer term charts is looking very promising. So, accumulate in the range of Rs 1480-1460, keep a stop loss at Rs 1430 and look for Rs 1580-1600 as your target for the next three months," he said.

"State Bank of India in the last two weeks on multiple occasions has hit about Rs 308-306 but not given a significant reversal from there barring a mild bounce back. So, we will observe them closely for the next few days. In case they don’t break the support, eventually I would believe that they should resume some kind of an uptrend but for the time being I think they are very close to their supports of around 2-3 percent and that is the case for most of the PSU banking lot."

"So, I would pray for some kind of a reversal but if that does not happen then it could be dragging the Bank Nifty as well as general sentiment on the street," he added.