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Last Updated : Dec 26, 2017 01:24 PM IST | Source: CNBC-TV18

Buy Jet Airways, Granules India; hold Tata Global Beverage: Mitessh Thakkar

Mitessh Thakkar of mitesshthakkar.com is of the view that one may hold Tata Global Beverage.

CNBC TV18

Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "Jet Airways certainly looks like will head higher. It is growing good momentum. But from a risk reward point of view I may not suggest a trade right now but if the stock comes down to about Rs 780-775 levels then it is a buy with a stoploss below Rs 750 and Rs 840-845 is what I am looking at."

He further added, "Interglobe Aviation (IndiGo) has given a fresh breakout today that is still a good area to possibly deploy your money. Keep a stoploss below Rs 1,190 and look for Rs 1,255-1,260 kind of a target, so from a trading point of view I think both these stocks look good only that the risk reward equation is slightly better if you were trading IndiGo."

"Granules India is something which is turning quite positive and appears to be giving some kind of a directional move. I would be a buyer here, keep a stoploss below Rs 133, so Rs 132.50 is what I recommend and Rs 145-146 should be the first target though eventually I suspect Rs 155 can happen."

Close

"ICICI Prudential has gone through a big correction and now showing signs of reversal. So, buy with a stoploss at Rs 391.50 for target of Rs 408."

"I would typically not be looking at sugar stock now. I think while they are doing good today, but most of these stocks appear to have made at least some kind of a short to medium term top. So, I think the returns will be very limited. I think you will see supply pressure immerged at higher levels."

"Dhampur Sugar for examples has corrected from Rs 320 levels to about Rs 230 levels now given a bounce back it can go to about Rs 255-260 zone, so it can give a good trading pop for the next couple of days in that sense yes, but otherwise for investing I don’t think sugar is the best sector right now."

"Tata Global Beverage, big time outperformance, but also is the fact that giving a five year view on technical is purely not possible at least for me. So, what we possibly look at into is the long term chart structure that is still quite positive. I do expect this series of higher tops and higher bottom which the stock is making to continue for next 12-18 months and can put a target of around Rs 425-450 on the upside for the next 18 months. Therefore definitely it remains a hold, there would be corrections and possibly buying opportunities in middle as well, but for the time being clearly a hold for the next 12-18 months look at target price close to about Rs 425-450."

"On ONGC I am quite positive that the stock has at least given a short to medium term buy signals on the chart, so at this level it is a good trading buy for next few weeks. Buy with a stoploss at about Rs 184 which is about 5-6 percent lower from here and look at targets closed to about levels of Rs 225-235 which could happen in next 12-15 weeks," he added.
First Published on Dec 26, 2017 12:40 pm
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