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.
He spoke at length about Bharat Electronics Ltd (BEL), Tata Chemicals, Bajaj Electricals, Tata Elxsi, Bajaj Finance, Bajaj Finserv, ONGC, Hero MotorCorp, Jindal Steel and Power, IndusInd Bank, Bharat Financial.
Stock specific, Thakkar said, “I have three buy ideas. Bharat Electronics (BEL) is a stock which had a big breakout day before and yesterday gave a pullback close to support areas. Buy with a stop at Rs 94 and look for targets of Rs 102. Buy Tata Chemicals where after that big breakout, two days of consolidation, the indicators are still expanding positively. So they should see some follow through. I would be a buyer with a stop at Rs 599 for targets of Rs 646. My third buy call is on Bajaj Electricals with a stop at Rs 550 for targets of Rs 580. I have one sell call and that is on Tata Elxsi. The intraday setup is slightly weak. So, sell with a stop at Rs 852 and look for a mild decline to levels of Rs 820.”
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