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 Axis Bank, HCL Technologies, Amara Raja Batteries, HDFC Ltd, Sun Pharmaceutical, Reliance Industries, Dr Reddys, Biocon, ITC, Gas Authority of India (GAIL), Indraprastha Gas, Motherson Sumi, Bajaj Finance, L&T Finance.
Recommending stock specific ideas, Thakkar said, “Both the gas stocks Indraprastha Gas (IGL) and Mahanagar Gas (MGL) are doing very well and I have picked up IGL as one of my picks. It has moved up slightly but around Rs 280 would be a good buy. Keep a stop at Rs 275 and look for first target of Rs 290. Sell Motherson Sumi, keep a stop at Rs 160 and look for targets of Rs 145.”
“Axis Bank is showing signals of continuation, making a fresh swing high, that is a buy with a stop at Rs 665, look for targets close to Rs 700. HCL Tech after a decline in consolidation, the intraday charts are now shaping up positively. So buy with a stop at Rs 943, look for targets of Rs 978. I also have a buy on Amara Raja Batteries, with a stop at Rs 770, look for targets of Rs 812. HDFC Ltd – intraday charts have shaped up positively, so buy with a stop at Rs 1,989 for targets close to about Rs 2,035,” he said.
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