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 United Spirits, Motherson Sumi Systems, Nestle India and Punjab National Bank (PNB).
“On the buy side, I have United Spirits which I have been liking for some time now. The indicator traction continues to be on the positive side but it needs to clear the pivot of Rs 567. So it is a conditional buy. Buy above Rs 568, keep a stop at Rs 559, look for targets of Rs 586. Motherson Sumi was the call earlier as well, the intraday charts suggest more upsides over here, buy with a stop below Rs 116 for targets of Rs 125 and buy on Nestle which is showing continuation. That is a buy with a stop at Rs 11,570 for targets of Rs 11,950. Solitary sell is in PNB where the indicator set up is turning more negative again. So keep a stop at Rs 80, possibly the stock will decline to levels of about Rs 72,” he said.
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