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Buy India Cements, Castrol India, IDFC Bank, Sintex; sell MCX India: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com is of the view that one can buy India Cements, Castrol India, IDFC Bank and Sintex Industries and sell MCX India.

May 16, 2017 / 11:21 IST

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "I have four buys and a sell. India Cements has given a good consolidation breakout, so I would buy with a stop loss at Rs 215 and look for Rs 234 kind of target. The other buy call is on Castrol India which appears to be giving fresh signals again after the last signal did not do much. However, this time it looks like we will have some momentum on the upside. So I would be a buyer with a stop loss at Rs 441.50 for target of Rs 465."

"IDFC Bank has come down to good support levels. So buy with a very tight stop loss at Rs 62.90 and look for a move to about Rs 66-66.50," he said.

"I also have a buy on Sintex Industries which has broken a pattern on the intraday charts and has given multiple buy signals in crossovers. So, buy with a stop loss below Rs 114.50 and look for Rs 122 kind of target."

"One sell call is on MCX India which is broken below the swing support level. So, sell with a stop loss at Rs 1,100 and look for Rs 1,020 kind of a target."

first published: May 16, 2017 10:47 am

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