According to Mitessh Thakkar of miteshthacker.com, one can buy Tata Motors 400 Put while he feels that L&T may slip to 1100 and the other stock that looks weak is Pidilite Industries.
Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "For Tata Motors anything below Rs 410-420 would be a breakdown and that is where the opening rates are. My sense is that wait for some kind of mild pullback and buy into 400 strike Put option, that could be a good trade."
"Larsen & Toubro (L&T) unfortunately is one of the stocks, which is now correcting. It is also Nifty participant, so keeping a stop loss at Rs 1,165, I would think for declines to about Rs 1,100-1,110 or thereabouts. The other stock which looks weak to me is Pidilite Industries but I would want to see this stock break support levels of Rs 785-784. It is only about Rs 5-6 away from there. If it breaks that then that could be a shorting candidate and we will look for the correction to about levels of Rs 740 and keep a stop loss at about Rs 800," he said."I have two stocks, which are breaking down, one of them is Larsen and Toubro (L&T), it is a sell with a stop loss at Rs 1,166 for target of Rs 1,110. RBL Bank is something which is showing signs of correction. So I would sell it below Rs 490, keep a stop loss at Rs 506 and look for declines to about Rs 460 kind of levels."Are you happy with your current monthly income? Do you know you can double it without working extra hours or asking for a raise? Rahul Shah, one of the India's leading expert on wealth building, has created a strategy which makes it possible... in just a short few years. You can know his secrets in his FREE video series airing between 12th to 17th December. You can reserve your free seat here.