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, ICICI Prudential, HDFC Bank, Hindustan Unilever, Bharti Airtel.
Speaking about the individual stock ideas, Thakkar said, “Allahabad Bank we are quite positive. The stock was declining till it kind of came out from the Prompt Corrective Action (PCA) yesterday and then we saw some kind of continuation pattern on the upside. So my sense is that it is heading towards Rs 51; it could be a good buy with a stop just below Rs 46. Also buy on ICICI Prudential where we have seen upside continuation signals yesterday. So buy with a stop at Rs 315 and look for targets of Rs 333. I have two sell calls, both of them on the index heavyweights, but both of them are conditional. They are showing some weak chart structure, but they are at pivot support. So HDFC Bank if it breaks Rs 2,082, which is 10 points lower, then sell with a stop at Rs 2,096 for targets of Rs 2,055. Hindustan Unilever (HUL), if it breaks Rs 1,730, then go short with a stop at Rs 1,742 for targets of Rs 1,705.”Follow stock recommendations by Mitessh Thakkar here:
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