Sell Bank of Baroda, State Bank of India; buy Century Textiles, Mahanagar Gas: Mitessh Thakkar

Indian benchmark indices, Nifty and the Sensex began Samvat 2074 on a negative note with the  Nifty shedding 0.25 percent or 25.80 points while the Sensex was down 67.25 percent, down 0.21 percent.

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Bank of Baroda is a conditional sell. Sell if it breaks Rs 136, keep a stop loss around Rs 140.50. look for Rs 127 as the target. I also have a sell on State Bank of India with a stop loss at Rs 250 where I would look for targets close to about Rs 230."

"Two buy calls - Century Textiles made a fresh breakout with very strong price volume action. Buy with a stop loss at Rs 1,320, target of Rs 1,400. Mahanagar Gas is a buy as well. Keep a stop loss below Rs 1,178 for targets close to about Rs 1,240," he said.

Torrent Power is something which has broken above that Rs 235-240 range. So keep a stop loss below Rs 235 and look for targets close to about Rs 270. MOIL is also on my watch list. Short-term charts are extremely strong and long-term charts  are extremely strong. For the time being, it is a buy with a stop loss of Rs 234, look for target of Rs 265.

"One on the sell side and that is Maruti Suzuki. After a long time, Maruti is showing the initial signs of weakness. but the trigger comes below Rs 7,740. So it might not happen today, maybe next week , Monday or Tuesday, but I think it is an important point if it breaks Rs 7,740, then I would go short there as well.