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Buy Adani Ports, NBCC; sell Biocon, Voltas: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com advises selling Biocon and Voltas.

June 20, 2017 / 09:45 AM IST

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "I am more positively biased on the index and most of these stocks. So we will be more aggressive on the long trades. Adani Ports looks like it is getting into a new zone, it has broken above all the earlier swing highs. So I would buy this with a stoploss at Rs 364 for target of Rs 395."

"Sell call is in Biocon which is seeing some breakdown on the intraday chart. So I would sell with a stoploss at Rs 339, look for a target close to about Rs 313."

"Finally NBCC has managed to close above levels of Rs 204-205. So buy with a very tight stoploss at Rs 201, look for a first target of Rs 216. I did discuss Tata Elxsi yesterday as well or even today at current levels, I would be very comfortable buying this one. It has given a very strong pricing volume and a swing breakout. So buy with a stoploss at Rs 1,585, for target of Rs 1,690."

"Voltas had some kind of a breakdown and a negative day yesterday, it could extend down to levels of about Rs 458. That being the target, short with a stoploss at Rs 482.50," he said.
first published: Jun 20, 2017 09:24 am
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