Short Tata Motors, buy Bosch: Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Tata Motors actually ties to rally and over the last few days, towards end of May, failed to get past the 200-day average and now it is breaking below the short term averages. So, sense is that it could be restarting some kind of a declining trend. I would want to short this one with a stop loss above Rs 466 and possibly play for targets close to about Rs 435-430."

"Bosch actually is one of the stocks which hasn’t been showing any signs of correction as yet. I believe that we could possibly trade it on short term intraday charts and the current signal is on the positive. I would want to buy this one with a stop loss below Rs 23600 zones and look for rallies to about Rs 24500. I am not expecting a bigger rally but the short term and immediate hourly charts are positively biased. So, some upwards drift could happen in the next 2-3 sessions."

"On the trading side, I think couple of PSU banks is what I would possibly look for in the selling side – Andhra Bank, Bank of India, Union Bank, etc. In metals, I would still be positive and want to buy into Hindustan Zinc or Vedanta once we get a mild pullback on the intraday charts," he added.