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Buy Godrej Cons, Manappuram Fin, Ashok Leyland; sell Reliance Infra: Thakkar

Mitessh Thakkar of suggests buying Godrej Consumer, Manappuram Finance and Ashok Leyland and advises selling Reliance Infra and Can Fin Homes.

July 25, 2017 / 11:03 AM IST

Mitessh Thakkar of told CNBC-TV18, "First call is a buy on Godrej Consumer. This is a conditional buy, there is an intraday pivot at Rs 999, so if it gets past Rs 1,000, buy then with a stop at Rs 984, look for Rs 1,040 as the next target."

"Manappuram Finance is a buy with a stop of Rs 104 and target of Rs 116. A buy on Ashok Leyland which has given a correction and now taking support around Rs 100-102 mark. Very important support areas, so good levels to buy this, keep a stop at about Rs 100, look for Rs 114 kind of a target."

"Two sell calls, both of them have given some kind of breakdown on the intraday hourly charts. Reliance Infra is a sell with a stop at Rs 516 for target of Rs 485 and Can Fin Homes is a sell as well, keep a stop just above Rs 3,100 and look for a decline to about levels of Rs 2,965-2,960," he added.

"I have two buy calls, Indiabulls Housing Finance is a buy with a stop at Rs 1,166, look for target of Rs 1,240 and M&M Financial Services has given a good breakout on the indicator chart and suggesting a lot of momentum, I would buy with a stop at Rs 371, look for Rs 390-395 kind of a first target but eventually higher targets could happen."
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