The latest analysis and commentary by stock market guru Mitessh Thakkar of mitesshthakkar.com on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Bajaj Finserv, HDFC Bank, Multi Commodity Exchange of India, Dr Reddys Laboratories (DRL), Godrej Consumer and Hindalco.
Talking about stock ideas Mitessh Thakkar said, “I have one buy and one sell, Godrej Consumer is a reversing from oversold levels so buy with a stop at Rs 635 for targets of Rs 670 and Hindalco is a sell that is seeing downward continuation sell with a stop at Rs 192 look for targets of Rs 180.”
“Bajaj Finserv the intraday charts are turned extremely positive that is a buy with a stop at Rs 7,540 Rs 7,760 should be our first target area. HDFC Bank is a conditional buy the chart structure is quite positive but Rs 2,320 is an important pivot so once it crosses that buy with a stop of Rs 2,304 look for Rs 2,350 as your first trading target and my third buy is on MCX with a stop at Rs 824 for targets of Rs 855. I have one sell call on Dr.Reddy's Laboratories where the indicators have started to turn down that is a sell with a very tight stop at Rs 2,822 and Rs 2,760 is the short-term target.”
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