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Buy Marico, Eicher Motors: Mitessh Thakkar

Mitessh Thakkar of is of the view that one can buy Marico and Eicher Motors.

June 02, 2017 / 12:40 PM IST

Mitessh Thakkar of told CNBC-TV18, "Even at current level, despite the fact that Balkrishna Industries moved up 3 percent after we gave a call, very comfortable buying afresh. Technically, it looks like it is set for higher levels. It has broken out of good consolidation, that should see some follow-up and I would look at target closer to about Rs 1,750 over there."

"I am looking at Marico also. We have seen Dabur India and Hindustan Unilever rally a lot and Marico is on the verge of breaking out above Rs 319-320 mark. So keep an eye on Rs 320 level. If it breaks above that, buy that with a stop loss at Rs 314; Rs 335-340 could be a good trading target for the next series," he said.

"I would have wanted to pick Indraprastha Gas (IGL) as well. A good breakout is taking place over there, getting past the highs of Rs 1,075-1,080 is a swing breakout for the stock. So keeping 25 points kind of stop loss just below Rs 1,070, I think this will be an excellent long trade. I think Rs 1,150-1,160 could be the target which the stock can easily achieve maybe even shoot beyond that. So I would be positive on IGL as well."

"That apart, I have two buy calls, I have a buy on Marico. It is a buy with a stop loss at Rs 315, look for target close to about Rs 334. Eicher Motors gapped up, could see continuation, so that is a buy with a stop loss below Rs 28,850 for targets close to about Rs 30,000."
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