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 Biocon, IndusInd Bank, Just Dial, MCX, Strides Arcolab, Ambuja Cement, ACC, Ultratech Cement.
Speaking about individual stock ideas, Thakkar said, “IndusInd Bank – the key event is that it was in a range of about Rs 1,545 to about Rs 1,605 and it has broken that on the downside. So I think the declines could continue to about levels of Rs 1,480. On a 5-10 point kind of bounce back, around Rs 1,522-1,525 would be a good levels to take a short positions and keep a stop above Rs 1,550. Second sell call is in Just Dial where the candlestick pattern is negative. Keep a stop at Rs 485, look for targets of Rs 460. Two buy calls, Biocon has had a good breakout. Buy with a stop of Rs 629 for targets of Rs 670 and MCX is something which I have recommended earlier as well but I think there are clearly positive signals on the indicator, which are continuing. So I would say that is a buy with a stop below Rs 740 for targets close to about Rs 784.”Follow stock recommendations by Mitessh Thakkar here:
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