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Last Updated : Jan 03, 2017 11:20 AM IST | Source: CNBC-TV18

Sell HDFC; buy HCC, Power Grid, Sonata Software: Mitesh Thacker

According to Mitesh Thacker of miteshthacker.com, one can sell HDFC and buy HCC, Power Grid and Sonata Software.

Mitesh Thacker of miteshthacker.com told CNBC-TV18, "One stock which is breaking down is HDFC and is now trading below the important support zone of about Rs 1,215 to about Rs 1,212. So this one could be a good short. Keep a stop loss at about Rs 1,230 while Rs 1,170 could be a good target."

"Amongst the midcap names, something which I have been liking for quite some time is HCC and today it has given a good break out above 6 percent. I would be a buyer here with a stop loss just below Rs 42 and look for targets of around Rs 49-50," he added.

"If Infosys starts breaking below Rs 980-975 zone and it is trading there, then you might see levels of around Rs 960 or Rs 955 on the downside."

"I have a buy on Power Grid, that is clearly one stock, which is doing very well and I would buy this one with a stop loss at about Rs 182, look for targets of Rs 195."

He further said, "Amongst the midcap IT names, Sonata Software continues to show strength, it is making a fresh high, that is a buy with a stop loss at Rs 198 and look for targets of Rs 211."

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First Published on Jan 3, 2017 11:20 am
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