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Last Updated : Nov 25, 2017 09:20 AM IST | Source: CNBC-TV18

Buy Jain Irrigation Systems, Apollo Tyres, RBL Bank: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com recommends buying Jain Irrigation Systems, Apollo Tyres and RBL Bank.


Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "I have a recommendation on Jain Irrigation Systems which after a long time has started to sustain and close above levels of Rs 110-111. So, that is a buy with a stop loss at Rs 108, Rs 122 should be the first target, though I suspect eventually higher targets would happen."

"Apollo Tyres after a correction has given signs of a short term trend reversal. For next 5-8 sessions this is a buy, keep a stop loss at Rs 243 and look for Rs 272 as the target."

"If you stretch the chart of RBL Bank a bit, starting from June 2017 which is roughly about 6 months now, the stock is doing a range of about Rs 545-550 to roughly about Rs 490-480 on the downside. I think that rangebound movement will still continue. Eventually with time, the stock should start breaking past Rs 550 and that should be a start of some kind of an upmove. The minimum target then should be about Rs 600 plus."

"So, I would suggest a hold. If one wants to trade more into it, try to buy it more around the levels of Rs 480, keep a stop loss below Rs 465 and once we get past Rs 550, Rs 600-620 roughly should be the profit booking target," he added.
First Published on Nov 25, 2017 09:18 am