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 Biocon, Divis Laboratories, HDFC Bank, Indian Oil Corporation (IOC), Indian Hotels, Indraprastha Gas (IGL), Bajaj Finance, Can Fin Homes.
Stock specific, Thakkar said, "I have two calls. The first one is buy on Bajaj Finance with a stop below Rs 3,100 and look for targets close to about Rs 3,200. Can Fin Homes is reversing on the intraday charts; that is a buy with a stop at Rs 325 for targets of Rs 350. It has moved up slightly, so around Rs 333 would be a good entry point."
“Indian Hotels is a buy with a stop at Rs 155 or Rs 154 look for targets of Rs 170. Indraprastha Gas (IGL) is a buy with a stop at Rs 312 look for targets of Rs 325.”
“I have more of buy calls to sell calls. I have a sell on Biocon to begin with. That has broken down the key support of Rs 605 so keep a stop above that. Rs 607 is what I am recommending and Rs 565-560 or thereabouts should be a profit booking zone. Three buy calls; Divis Laboratories upside continuation signal is there, buy with a stop at Rs 1,715 for targets of Rs 1,820. HDFC Bank, the structure is quite positive, but the stock has just closed below the earlier highs of Rs 2,320. So let it get pass Rs 2,325 buy then with a tight stop at Rs 2,308 and Rs 2,370 and Rs 2,380 should be a near term target. Buy on Indian Oil Corporation (IOC) crude has been coming down, the charts of OMCs has improved a bit, so IOC is a buy with a stop at Rs 155 for targets of Rs 164.”
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