Moneycontrol PRO
HomeNewsBusinessSell Bajaj Finance; buy Bajaj Auto, Cipla, Federal Bank, Tata Motors DVR, BEML: Mitessh Thakkar

Sell Bajaj Finance; buy Bajaj Auto, Cipla, Federal Bank, Tata Motors DVR, BEML: Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com is of the view that one can sell Bajaj Finance and can buy Bajaj Auto, Cipla, Federal Bank, Tata Motors DVR and BEML.

October 17, 2017 / 11:32 IST

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "The only stock which is on the sell side is possibly Bajaj Finance. It has made two highs at levels of about Rs 1,950-1,960 and yesterday we got some intraday breakdown with the numbers coming out and some profit booking happening. So, maybe there is some more price decline or a mild correction or pull-back left in the price."

"My sense is that it could decline to levels of about Rs 1,805-1,800 and sell this with a stop loss at Rs 1,922."

"Bajaj Auto made a fresh swing breakout with a good intraday setup. Buy with a stop loss at Rs 3,184 for target of Rs 3,340."

"I also have a buy on Cipla made a breakout beyond levels of Rs 595 which was a typical supply zone for the stock. So, buy with a stop loss at Rs 592, look for Rs 630 as the target."

"Federal Bank was buzzing. With price-volume breakout and a good range breakout, buy with a stop loss at Rs 118.90, look for Rs 135-136 kind of a target."

"Tata Motors DVR and the Tata Motors are looking very good. So I have picked the Tata Motors DVR, buy with a stop loss at Rs 239, look for upside to about levels of Rs 258," he said.

"BEML is giving a good breakout of the 3-day range. That could possibly be a buy with a stop loss below day's low and I would look at Rs 1,825 as the target."

"The other stock which I think is looking good is Asian Paints. Yesterday we had a call on Berger Paints, Asian Paints is also showing a good intraday sign."

"BEML has moved up slightly higher, so unfortunately, buy cannot be initiated now, but anything closer to about Rs 1,800-1,795 is a good buying zone. Keep a stop loss below Rs 1,774 and Rs 1,860 is your target," he added.

"Mindtree is the other stock which I like. Again, a very good intraday setup. Buy with a stop loss at Rs 490, look for a Rs 535 kind of target over the next few days."

first published: Oct 17, 2017 11:31 am

Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!

Advisory Alert: It has come to our attention that certain individuals are representing themselves as affiliates of Moneycontrol and soliciting funds on the false promise of assured returns on their investments. We wish to reiterate that Moneycontrol does not solicit funds from investors and neither does it promise any assured returns. In case you are approached by anyone making such claims, please write to us at grievanceofficer@nw18.com or call on 02268882347