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Short Fortis Healthcare, buy Avenue Supermarts: Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com suggests shorting Fortis Healthcare.

August 22, 2017 / 12:18 IST

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Axis Bank is something which I have been looking at with a lot of interest. I think it has on multiple occasions bottomed out around Rs 485-480 mark and if it starts getting past Rs 500-503, we might get a reversal. Conversely, if it eventually breaks Rs 480, I think then we are in for some kind of stronger decline which could see the stock decline by 10 percent or more."

"I think DHFL and Grasim Industries look positively biased on the charts and Fortis Healthcare I think continues to decline and still remains as a negative chart. So, I would trade there on the short side while Grasim would be on the long side."

"I have one buy and one sell. The buy is on Avenue Supermart. If it gets past Rs 950, buy with a stop loss at Rs 930 for target of around Rs 1,000."

"Capital First is a sell. It has come down a bit. I would want to sell it around Rs 714-715 mark with a stop loss at Rs 731 for target of Rs 675."

first published: Aug 22, 2017 12:18 pm

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