Sell ICICI Bank, Jet Airways, DLF; buy Ajanta Pharma, Torrent Pharma: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "I have a sell on ICICI Bank, an underperforming stock which is now turning weak. Sell with a stop loss at Rs 290.50 and look for Rs 272-270 kind of a target. Jet Airways continues to show weakness and closed below the pivot levels of Rs 545. So, sell with a stop loss at Rs 548.50, look for Rs 515-516 kind of a target."

"The final sell is on DLF where the intraday charts are bad or negative. So I would sell with a tight stop loss at Rs 188, look for marginal declines to about Rs 178 kind of levels," he added.

"Two buy calls, Ajanta Pharma has had a good candlestick pattern, if it continues to get past yesterday’s high of Rs 1,265, buy then with a stop loss at Rs 1,230, look for Rs 1,340 kind of a target. Torrent Pharma had a very strong pricing volume breakout. So, I would buy that as well, Rs 1,330-1,325 is a buying range, keep a stop loss at Rs 1,298 and look for Rs 1,400 kind of a target," he said.

"If Hindalco Industries continues to show weakness and starts trading below levels of Rs 235, I would then want to short or buy a Put option. That could be a good strategy."

"Similarly, support levels of Vedanta is around Rs 310, so you might see some kind of support coming and once it breaks, it might happen over the next couple of days, then you would get a bigger correction."