Mitesh Thacker of miteshthacker.com is of the view that one may sell ITC and Coal India.
Mitesh Thacker of miteshthacker.com told CNBC-TV18, "The midcap ideas still remain more on the buy side, some of the largecap on the sell side. I have a sell on ITC which has been going though some kind of damage and we have seen some negative crossovers of medium-term averages here. Sell with a stop at Rs 246 for targets of Rs 234."
He further added, "The other one is Coal India which has broken below the 200-day average. On Friday some kind of negative price pattern, in the short-term if it doesn’t capture Rs 328 again which is the stoploss level, I think Rs 310 looks very likely."
"The buy calls are on midcap side. Mahindra & Mahindra Financial Services is buy, a conditional buy above Rs 367, buy it with a stoploss at Rs 360 for target of Rs 385. CARE is a buy. It has given some swing breakout, so that is some buy with a stop at Rs 1,324 for target of Rs 1,430. Lastly, Godrej Properties where we did see some intraday reversal on the chart on Friday. That is a buy with a stoploss at Rs 339 for target of Rs 365," he said.The Great Diwali Discount!
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First Published on Oct 3, 2016 10:02 am