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December 07, 2018 09:27 AM | Market

Mitessh Thakkar on December 7: Buy Glenmark Pharmaceuticals and sell RBL Bank

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 Bata, Colgate Palmolive, ICICI Prudential ,Punjab National Bank (PNB), Glenmark Pharmaceuticals and RBL Bank.

“I have sell on RBL Bank it was a call earlier as well but even at current levels it would be a comfort sell. Keep a stop at Rs 555 look for targets around Rs 524 to begin with and then Rs 515 can happen. Glenmark Pharmaceuticals is one sector which is kind of avoiding this dip looking more stronger so Glenmark is a buy with a stop at Rs 630 for targets of closed to about Rs 665.”

“I have mix of buy and sell calls. Couple of stocks, which are still showing an uptrend and are close to support areas – two of them Bata is near an important support of Rs 1,030, so keep a stop at Rs 1,028 with a target of Rs 1,060-1,065. Similarly, Colgate Palmolive would be a buy with a stop below Rs 1,080 for targets of Rs 1,222. Two sell calls – ICICI Pru has broken important support range of Rs 316-320 so any bounce back to about Rs 312-314 would be a good shorting opportunity, keep a stop at Rs 319, look for targets of Rs 300. Similarly, PNB - close to Rs 67.50 can be sold with a stop just above Rs 69.25 and look for a target of around Rs 63,” he said.

Follow stock recommendations by Mitessh Thakkar here: https://www.cnbctv18.com/author/mitessh-thakkar-111/

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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