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 Allahabad Bank, Bajaj Auto, Pidilite Industries and Steel Authority of India Ltd (SAIL), HCL Technologies, ITC, Glenmark Pharmaceuticals.
“HCL Technologies is a buy with a stop of Rs 1,054 look for targets of Rs 1,095. ITC is juts breaking below that Rs 273.50-274 levels so that is a sell. Keep a stop at Rs 277 and look for targets of Rs 265.”
“The intraday charts have turned very positive for Bajaj Auto after a few days of pullback. So I will suggest a buy with a stop at Rs 2,790 for targets of Rs 2,875. Also a buy on Allahabad Bank where the indicators have turned positive with the gap up opening yesterday. Though it came off the highs, I suspect the short-term trend has turned on the upside. So would buy with a stop of Rs 45 for a target of Rs 49. SAIL is also a buy with a stop just below Rs 48, look for levels of Rs 51.50 and a solitary sell call is Pidilite, around Rs 1,080, sell with a stop of Rs 1,096 for targets of Rs 1,050,” he said.
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