Buy NMDC, GMDC; short Eicher Motors on pullback: Mitesh Thacker

Mitesh Thacker of miteshthacker.com told CNBC-TV18, "While you might not want to short them right now, my sense for most of these auto stocks, I think the trend is turned on the negative side especially Eicher Motors and Tata Motors.""Eicher Motors, I think will eventually head towards levels of around Rs 18,250. So, there is still some significant downside left or maybe on a pullback I think you would want to short this one.""Similarly, Tata Motors, to me it appears that the stock has gone to some kind of a stronger downtrend and once it breaks its 200-day average which is where it has been holding on for the last few days, it is at about Rs 450 now, then I would take a short there as well.""In metal, I had spotted Nalco but even apart from that NMDC and GMDC are also looking very good metal related stocks. I think NMDC is something which I would be comfortable buying with a stoploss just below Rs 119-119.50 and look at target close to about Rs 130.""Similarly, Gujarat Mineral Development Corporation (GMDC) which is also a buy with a stoploss just below levels around Rs 101 and I would look at target close to about Rs 110 here," he said.