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 Cummins, Mahanagar Gas, Power Grid, Ramco Cement, Federal Bank, United Breweries, Bajaj Auto, Mahindra and Mahindra, TVS Motors, Punjab National Bank, Vedanta.
Speaking about specific stocks, Thakkar said, “I have a buy on Punjab National Bank (PNB). The public sector banks are showing good traction today so that is a buy with a stop at Rs 73 for targets of Rs 79. Vedanta is a buy, keep a stop at Rs 203 and look for targets of Rs 218.”
Speaking about individual stock ideas, Thakkar said, “Cummins had a good breakout and positive expansion signals on the chart yesterday. So buy with a stop at Rs 812.50 and look for Rs 865 as the primary target. Mahanagar Gas (MGL) was a call yesterday as well. The candlestick pattern is quite good. So fresh buying can be done with a stop at Rs 875 for targets close to about Rs 950. Power Grid good gap breakout, positive news flow there yesterday, so, that is a buy with a stop at Rs 188 for targets of Rs 202. Ramco Cement is a buy as well. Keep a stop at Rs 634 and look for targets of Rs 670. ”
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