Mitessh Thakkar of mitesshthakkar.com suggests selling RBL Bank, Zee Entertainment and advises buying Cholamandalam Investment and Dabur India.
Mitessh Thakkar of mitesshthakkar.com told CNBC-TV18, "I would say this may not be the most refined entry point. We have talked about ICICI Bank when the stock was around Rs 285-290. It came out with very good quarterly numbers, I think that was the starting point of the trend. We will eventually see higher levels on the stock. I think Rs 360-380 is what the medium to longer term charts suggest. However, as I said, this may not be the best entry point, so I think you might want to wait on that."
"Coming to Axis Bank and State Bank of India (SBI), I think they have their own individual patterns. Axis, I don’t still think that is ready for a bigger reversal. I would want to see the stock get past Rs 530. That could trigger some kind of a medium-term trend."
"I have few sells calls today. RBL Bank is a sell. I think it is slipping below key averages. So, if it doesn’t get past Rs 533 that being the stoploss, I would look for target of around Rs 430. Steel Authority of India (SAIL) is continuing a negative pattern. So, most likely should decline further and Rs 53 is the target and Rs 58 is the stoploss."
"I have a sell on Zee Entertainment Enterprises as well where we have seen some negative cross overs of averages. So keeping a stoploss at Rs 517, sell for target of Rs 485."