Sell Marico, buy Sun Pharma Advanced Research: Mitesh Thacker

Mitesh Thacker of miteshthacker.com told CNBC-TV18, "Apart from banks, I would take positions in Marico. That is one stock which has broken down the 200-day average with some kind of gap, so negative set up is over there. Sell with a stop loss at Rs 260 and look for targets of around Rs 240.""In the cash stock, Sun Pharma Advanced Research Company is showing some traction on the upside. So, that can be bought with a stop loss below Rs 322 and I would look at targets close to about Rs 355," he added."In Sun Pharmaceutical Industries, looks like a reversal from extremely oversold levels, I think this looks like a rally which could possibly have some more legs. Rs 720-725 was the big break down level. We are having a proper pullback to those levels. If you don't cross those levels I would even look at exploring a short positions but for the time being Rs 720-725 is the next call."