The latest analysis and commentary by stock market guru Mitessh Thakkar of mitesshthakkar.com on what is moving the markets today. Check out his top stock recommendations.
I have two buy calls given the fact that we are closer to the support zone. NTPC is one stock which is showing good traction on the short term charts and holding on to today’s gains. That is a buy with a stop at Rs 167 and look for Rs 177 kind of a target, Thakkar said.
Raymond opened with a gap up taking support near the 200 day average yesterday. So, I will keep a stop at Rs 920, a tight one, and look at rallies to about Rs 950, Thakkar added.
We had a sell call on United Breweries. It was breaking below the key support zone of Rs 1,010-1,005. It has hit the target of Rs 960 but I do suspect eventually further lower levels to be tested over here. This does appear that a good consolidation base has been broken, so, I would look at targets in the vicinity of about Rs 900 for somebody who is trading in the positional side and now you just trail your stop loss to above Rs 1,000, Thakkar further added.