The latest analysis and commentary by stock market guru Mitessh Thakkar on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Pidilite Industries, Larsen and Toubro (L&T), Manappuram Finance, TVS Motor Company, IDFC Bank, and Piramal Enterprises.
“On the stock side Piramal Enterprises after a good decline is now showing signs of reversals that is a buy with a stop below Rs 2,194 look for targets of Rs 2,280. Another beaten down stock which is showing reversals on the short-term charts is IDFC Bank. I would buy with a stop just below Rs 37.80 and look for targets closer to Rs 42.”
“Lot of stocks in the last two days on the short-term and the intraday charts have given strong reversals. Pidilite Industries is a buy with a stop of Rs 1,136, look for targets close to about Rs 1,185. L&T very similar set up, the intraday charts have now turned positive. So keep a very tight stop at about Rs 1,386 levels and look for Rs 1,430-1,435 kind of first target. Manappuram has managed to get past the earlier swing highs of Rs 87, so buy with a stop just below that, Rs 86.90 is what I recommend and Rs 94 should be the first target. TVS Motor also has managed to get past Rs 560 levels so buy with a stop at Rs 557-558, look for targets of Rs 595,” he said.
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