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Buy IDFC, Kajaria Ceramics; hold Jain Irrigation: Mitessh Thakkar

Mitessh Thakkar of is of the view that one can buy IDFC and Kajaria Ceramics and can hold Jain Irrigation.

January 05, 2018 / 01:56 PM IST

Mitessh Thakkar of told CNBC-TV18, "I have two buy calls. Very clearly the trading is still on the positive side. IDFC is a buy with a stop loss at Rs 61 for target of Rs 67. Both IDFC and IDFC Bank and number of banking stocks like Yes Bank are clearly showing breakouts on the short term charts. So that is a buy with a stop loss at Rs 61 for target of Rs 67."

"Kajaria Ceramics is a buy as well. Keep a stop loss at Rs 740 and look for Rs 785 as the target."

"Force Motors recently had a correction; it made a low of around Rs 3,000. I think that is very important medium to long term support zone. So, keep a stop loss below that and I think it has possibly reversed from there already and I think the next target which we look for the upside if somebody is looking at a few months of a holding period which is about 9-12 months, I think the stock can easily retest the recent 52-week highs of around Rs 4,500."

"I would suggest a hold on Jain Irrigation. Clearly this is one stock especially, we are hearing things about rural things happening in Budget, etc. However, on the charts also, I think the stock is doing extremely well. Though there is some minor pivot at Rs 137-140 zones, my sense is that in the next few months, the stock should minimum do a target of around Rs 160-170, maybe beyond that."

"So clearly hold. Now I think the stop loss can be trailed to levels of Rs 120. I don’t think Rs 120 will be broken, but stronger chance is that Rs 170 will be hit in the next three to four months."
first published: Jan 5, 2018 01:52 pm
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