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Last Updated : May 04, 2017 11:22 AM IST | Source: CNBC-TV18

Buy IDBI Bank, Bank of India, Union Bank on minor intraday dips: Mitessh Thakkar

Mitessh Thakkar of suggests buying IDBI Bank, Bank of India, Union Bank on minor intraday dips. "One can also buy Avenue Supermarts," he adds.

Mitessh Thakkar of told CNBC-TV18, "I would be immediately interested to look into ICICI Bank. In case we open beyond Rs 290 and continue the momentum, that becomes the immediate top pick to begin with. Along with that, it might give some fillip to Axis Bank, it is also not be able to get past Rs 515-520 zone, so that comes on the radar. That apart, couple of PSU names and they have done extremely well in the last few days but I would be a buyer on IDBI Bank, Bank of India and Union Bank on minor intraday dips."

"I am tracking some of the PSU names and that is where the action remains. If I have to open the chart of Avenue Supermarts, it has given a good intraday buy and my sense is that if it doesn’t break below today’s low of Rs 755-757, we would look at a rally which should see this stock retest the earlier highs of Rs 800-805. So I would be a buyer with that kind of target and beyond that we might look at a fresh breakout which puts Rs 835 as the logical target. Apart from that, PSU banking space remains in a buzzing zone and that is where we focus some kind of buying attention on," he added.

"Try to buy ICICI Bank around Rs 291 with a stop loss below Rs 284; Rs 305-308 being the target zone. IFCI is getting some kind of a trended movement. So buy with a stop loss below Rs 31.75 and Rs 35-35.50 could be a slightly positioning kind of a target."

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First Published on May 4, 2017 11:05 am
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