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Buy Aurobindo Pharma, IOB; sell Jubilant Food: Mitesh Thacker

Mitesh Thacker of miteshthacker.com recommends buying Aurobindo Pharma, Torrent Pharma, Indian Overseas Bank and Ashoka Buildcon and advises selling Jubilant Foodworks.

September 09, 2016 / 09:45 IST
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Mitesh Thacker of miteshthacker.com told CNBC-TV18, "Aurobindo Pharma, which after the numbers had a good upmove and then there was consolidating. Yesterday, we got a continuation candlestick pattern. So buy this stock with a stop loss at Rs 790 for targets of Rs 840.""Torrent Pharma, which has given some strong buy signals on the intraday charts is a buy with a stop loss at Rs 1,640 and I would look for targets of around Rs 1,750," he said."Jubilant Foodworks is some kind of continuation pattern and that has been formed on the candlestick chart. So, I believe that the decline should resume again. Sell with a stop loss at Rs 1,116 for targets of Rs 1,000.""Indian Overseas Bank (IOB) has had a very good price volume break out, there is more to come. So I would look at an aggressive target of Rs 32 as a positional call and buy with a stop loss below Rs 27.20.""Buy Ashoka Buildcon with a stop loss at Rs 165 for targets of Rs 190."

first published: Sep 9, 2016 09:45 am

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