Buy Bharat Forge, Power Grid, SBI; sell IGL: Mitesh Thacker

Mitesh Thacker of miteshthacker.com told CNBC-TV18, "I have more of buy calls to begin the day with. The first one is a buy on Bharat Forge with a stop loss at Rs 872 for targets of Rs 925. Granules India which is trading at very key support levels of Rs 106 to about Rs 103, can be bought with a stop loss below Rs 102.50 with a target of Rs 110." "We have been bullish on Power Grid for last few days. That is one stock which remains in uptrend, can be bought with a stop loss at Rs 180 for targets of Rs 195," he said. "State Bank of India (SBI) is a buy as well with a stop loss at Rs 270 for targets of Rs 292," he added. "I have one solitary sell call on Indraprastha Gas (IGL) and it is a conditional sell. If the stock starts breaking below Rs 815, it is seeing signals of some correction from overbought levels, so if it breaks Rs 815, sell with a stop loss at Rs 833 for target of Rs 785.""I am still not aggressively running into taking fresh short positions on the indices but on stocks I think one of the stocks which comes to my focus is Kotak Mahindra Bank which is trading below the levels of Rs 795-790 support zone and is still trading in negative on a day when the market has opened up. So, I would start shorting this one with a stop at Rs 796 and look for Rs 750 as the first target." "I think the NBFC segment still looks very weak to me. While they are quite oversold for most of these stocks like Bajaj Finance or Bharat Financial, I think they might give you a slightly better pullback. However, once the intraday averages catch up with the price and I think there is some kind of consolidation, I think they will resume the downtrend. So, NBFCs remain on the sell list but maybe at a higher level or after some kind of a consolidation."