Buy Kotak Mahindra Bank above Rs 787; sell Lupin: Mitesh Thacker

Mitesh Thacker of miteshthacker.com told CNBC-TV18, "Kotak Mahindra Bank is on the verge of breaking into all time highs and typically when stocks do that, they signal a good momentum. So I would buy Kotak if it starts getting past Rs 787 that will be a fresh breakout and buy with a stop loss at Rs 775 for target of Rs 810.""I also have a buy on Oil India. Crude has been clearly supportive for most of the oil stocks. It has been consolidating in the range of Rs 377 to about Rs 360. So again I would want to see the break out happen above Rs 378 and then buy with a stop loss at Rs 371 for targets of Rs 392," he added."Typically, most of these targets would be for about two-three days and yes, what Lupin has done technically is that it has given a pullback and still looks negative on the structure. So I would sell this with a stop loss at Rs 1,611 for targets of around Rs 1,540.""Stocks which have shown good patterns and are seeing somewhat continuation could be a good way to trade because the indices are very lacklustre. So, Cipla is picking up steam again after two days of sideways action. That could be a good buy. Arvind is breaking out of intraday charts, so that could be a good buy, I would buy Cipla with a stop loss below Rs 545 for targets of Rs 580 and Arvind will be a buy with a stop loss below Rs 309 for targets close to about Rs 328-330."