NIFTY 50

Buy Ajanta Pharma, Federal Bank; sell Zee & Bajaj Finance, says stock analyst Mitessh Thakkar

Updated : May 07, 2019 10:22 AM IST

The latest analysis and commentary by stock market guru Mitessh Thakkar of mitesshthakkar.com on what is moving the markets today.

He shared his views and readings on Zee, Ajanta Pharma, Bajaj Finance, Federal Bank, Marico, ICICI Bank, HDFC Bank, Reliance Industries, and State Bank of India.

"I have a sell on Zee Entertainment. I think that is giving some kind of a breakdown. So, that is a sell with a stop at Rs 397 and look for targets of around Rs 370. Ajanta Pharma, the candlestick pattern yesterday was positive and the indicator setup is turning positive. Though the stock is yet to clear its 200 day average which is at about Rs 1,080 levels on the spot, my sense is that we are in for some kind of an upside and test of Rs 1,100 looks likely. That is a buy with a stop at Rs 1,049. A buy on Federal Bank which was a buy earlier as well. It is showing continuation signals. So, fresh buy with a stop at Rs 98 for targets of Rs 105. Sell on Bajaj Finance where the intraday charts are suggesting some kind of a pullback. That is a sell with a very tight stop at Rs 3,076 and look for declines to about Rs 2,950 levels," Thakkar said.

Follow stock recommendations by Mitessh Thakkar here: https://www.cnbctv18.com/author/mitessh-mthakkar-111/

Disclaimer: Network18, the parent company of CNBCTV18.com, is controlled by Independent Media Trust, of which Reliance Industries is the sole beneficiary.

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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