The latest analysis and commentary by stock market guru Mitessh Thakkar of mitesshthakkar.comon what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Larsen and Toubro (L&T), the Ramco Cements, Titan Company and Reliance Capital.
“Reliance recently tested very important support of Rs 1,320, bounced back from there at Rs 1,360 and closed slightly off the highs. So I think Rs 1,320-1,380 could be the range which the stock might consolidate for some time but eventually it should start getting on the higher side. So closer to about Rs 1,320 would be entry point with one percent kind of a stop loss, that apart, I have buy calls on Larsen and Toubro (L&T) where the intraday charts have improved. Keep a stop below Rs 1,370, look for targets of Rs 1,410. Cement as a pack is looking extremely exciting but I have picked a midcap cement this time, Ramco Cements could be bought with a stop at Rs 774 for targets of Rs 810 and Titan is my third buy call where the intraday charts are positive. So keep a stop at Rs 1,103, look for targets close to Rs 1,150 and I have one sell call on Reliance Capital, which had some kid of a breakdown on the hourly charts day before and that can be sold with a stop of Rs 176 for targets of Rs 160,” he said.
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