Exit BHEL, pick M&M, Mindtree, Sonata Software; Rain Industries likely to head higher: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "I think BHEL is not the best of the stock in the last few quarters and there is no sign of that changing, though it might give a trading rally to about Rs 100-110 on the upside and that should be it."

"I would suggest shifting into a stock like Mahindra and Mahindra, couple of midcap IT names look very promising – stocks like Mindtree, Sonata Software, etc. I think shifting would be a good option."

"Rain Industries is now getting into a range closer to about Rs 385-400 on the upside to about Rs 340-330 on the downside. I think the last one and a half months has been spent in that range and clearly after getting so overbought, I think the stock needs to settle down for some time, that activity is still on."

"In case one has some kind of time horizon which is more than about a few months, I would suggest keeping a hold position over here and trail your stop loss to levels of about Rs 325. As long as that is not being broken medium to longer term trend will remain on the upside and eventually that should lead to a breakout beyond levels of Rs 400 which could see Rs 450-500 being tested very easily. So, it might take some time, some consolidation but overall trend remains on the upside," he said.