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Last Updated : Feb 10, 2017 11:15 AM IST | Source: CNBC-TV18

Buy Bharat Forge, Motherson Sumi, TVS Motor, AB Nuvo: Thakkar

Mitessh Thakkar of miteshthacker.com suggests buying Bharat Forge, Motherson Sumi Systems, TV18 Broadcast, TVS Motor Company and Aditya Birla Nuvo.


Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Bharat Forge managed to get past the earlier swing highs of Rs 995-1000. So keep a stop loss below Rs 994 and look for target of Rs 1,060."

"Motherson Sumi Systems ended the day with some strong signals on the intraday charts. So, that is a buy as well. Keep a stop loss at Rs 342, look for target of Rs 360," he said.

"I have one sell call on Oil and Natural Gas Corporation (ONGC) where some negative crossovers have taken place. So, keeping a stop loss at Rs 197, this one can be sold for a short-term target of around Rs 185."

"TV18 Broadcast’s chart setup is quite positive but I would want to see the price get past Rs 41. So, buy above Rs 41, keep a stop loss below Rs 40; Rs 39.90 is what I would recommend and look for target of Rs 44-45 to begin with."

"I also have a buy on TVS Motor Company with a stop loss at Rs 400 for target of Rs 425. Birla group stocks like Aditya Birla Nuvo and Grasim Industries are showing good break out on the intraday charts. So, that is where trading action could be happening. I would still be a buyer in AB Nuvo with a stop loss at Rs 1,470 for target of Rs 1,530. Grasim as well looks like heading towards Rs 1,045-1,050."

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First Published on Feb 10, 2017 11:15 am
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