Buy MRF, positive on Castrol India: Mitesh Thacker

Mitesh Thacker of miteshthacker.com told CNBC-TV18, "Castrol India is very clearly news driven. The stock is coming back to normalcy. Overall, it is a chart which has been positively biased for last few weeks and only in the last week we saw big correction possibly because of this news. I think the stock will head towards the recent highs of Rs 474-472 and if it crosses that, maybe we are looking at targets of close to Rs 495. So I am quite positive on the short-term to medium-term structure over here.""MRF remains the top of my pick. I have talked about Rs 45,500, which was the earlier highest weekly closing, that is the primary target but overall I think this is a stock which appears to have triggered the longer-term trend and we are looking at targets close to about Rs 52,000-53,000 over here. So, the stock still remains a buy. Any declines to about Rs 42,000 or thereabouts should be good for people who are trading with positional bias or even trading with a three-six months kind of dividend base, it will be good levels to enter and I would look at Rs 52,000 as the next six months kind of target," he said.