Buy VIP Industries, Hexaware; sell Escorts, Federal Bank, Kotak Bk: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "I have three sells and two buys. The buys are on VIP Industries which had a good price and volume breakout yesterday. I would buy now with a stop loss at Rs 197 for target of Rs 225."

"Hexaware Technologies is something which I like. It has given a good pullback in the last two days, now close to support levels. So, buy with a stop loss at Rs 260 and look for target close to about Rs 278-280."

"Three sell calls, the first is Escorts where some intraday charts have turned negative. So, sell with a stop loss at Rs 622.50 and target of Rs 560 is what I would look for," he said.

"Federal Bank has given again some negative indicator breakup, so, sell with a stop loss at Rs 110 or just above it, and look for Rs 98-99 kind of a target."

"Kotak Mahindra Bank has finally broken below or just closed below the key support zones of Rs 970-975. So, if it breaks yesterday’s low of Rs 967.50, which is after a good opening, then I should advocate taking short positions with a stop loss at Rs 985.50 for target of Rs 930," he added.