Sell Canara Bank, PVR, RBL Bank; buy Bajaj Auto: Mitessh Thakkar

Mitessh Thakkar of is of the view that one may sell Canara Bank, PVR and RBL Bank.

September 25, 2017 / 10:16 AM IST

Mitessh Thakkar of told CNBC-TV18, "Canara Bank is a conditional sell, I would want to see it break the pivot levels of Rs 323 then go short, keep a stoploss at Rs 332 and look for target of Rs 305. A sell on Indian Bank as well, keep a stoploss at Rs 278.50, look for Rs 259 kind of a target."

"RBL Bank is the third banking stock which I have a negative bias upon. It has broken below the key short-term moving averages, likely to see some more pressure, so sell with a stoploss at Rs 531, look for Rs 490 kind of a target."

"My fourth sell is on PVR, which has made a fresh swing breakdown and a fresh low. I would sell with a stoploss at Rs 1,251 for target of Rs 1,150."

"The solitary buy call which I have is Bajaj Auto. It has come back to important support levels, indicative set up is quite positive, so this is something which I would want to trade on the long side. I would suggest a stoploss below Rs 3,000 or Rs 2,999 and a target of around Rs 3,150 on the upside," he added.
first published: Sep 25, 2017 10:16 am