Buy UltraTech Cement, Tata Chemicals: Mitessh Thakkar

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, "Maruti Suzuki's 52-week high was around Rs 5,920, so it is about 3-4 percent but IndusInd Bank looks very interesting between the two. Last time when IndusInd Bank was around the levels of Rs 1,235-1,240, we saw multiple highs being created in these Rs 5 zone and this time the indicator set up is quite positive. So, once we get past Rs 1,240, the stock pattern suggests very aggressive price targets of around Rs 1,350 to about Rs 1,380 on the upside. So, I would want to see it get past Rs 1,240 and then buy post the break out and keep a stop loss at about 20 points and look for a possible 100 point kind of a rally.""I have a buy onUltraTech Cement with a stop loss below Rs 3,380 and look for targets of Rs 3,525. Tata Chemicals is another stock, which is breaking on the upside. So that is a buy as well. Keep a stop loss below Rs 522, just below today’s low and look for Rs 550 as the target," he said.