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Sell Dabur, Apollo Tyres; buy CONCOR, Aptech, Future Consumer: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com suggests selling Dabur India and Apollo Tyres and advises buying Container Corporation of India, Aptech and Future Consumer.

August 23, 2017 / 11:42 IST

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "I have mix of buy and sell calls. I have a sell on Dabur India where some kind of bearish pattern is being formed. If it breaks Rs 300, that will be breakdown from the pattern. So, sell then with a stop loss at Rs 306 and look for Rs 288-285 kind of price target."

"Apollo Tyres is a sell as well. We had a sell yesterday, also I think the intraday sell signals continue there. There is some kind of swing pivot at Rs 259, so, if it breaks Rs 258, sell afresh with a stop loss at Rs 264.50 for target of Rs 245."

"Three buy calls, Container Corporation of India (Concor) is something which appears to be getting into a stronger up trend. So, that is a buy with a stop loss at Rs 1,234 for a positional target of around Rs 1,400."

"Two cash stocks, I like Aptech which had a very strong price and volume breakout. I would buy that with a stop loss at Rs 244 for targets of Rs 285-290," he said.

"Future Consumer is a buy with a stop loss below Rs 42.50 for target of Rs 48," he added.

"IndusInd Bank is something which appeals to me on the intraday charts. I think that could possibly inch up a bit more. So, I would be a buyer with a stop loss just below days low, Rs 1,628 and look for Rs 1,680-1,685 kind of a target possibly by tomorrow."

"I have one buy and one sell. The buy is on IndusInd Bank where I think the intraday pattern is quite strong. So, buy with a stop loss below Rs 1,624 and look for Rs 1,675-1,680 kind of a target."

"A sell on Asian Paints with a stop loss just above Rs 1,140 and I would look for declines to about levels of Rs 1,090."

first published: Aug 23, 2017 10:07 am

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