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 Dr Reddys Laboratories (DRL), Multi Commodity Exchange of India, Oil and Natural Gas Corporation (ONGC) and Godrej Consumer Products.
“I have mix of buy and sell calls. The first one is a buy on DRL and in fact the entire pharmaceutical pack does look interesting from a trading point of view. DRL can be now bought with a stop below Rs 2,892 for targets close to about Rs 3,000. Also a buy on MCX where the intraday charts are shaping up nicely. So keep a stop at Rs 786, look for targets of Rs 830 and ONGC is my third buy call, where I would look for targets of Rs 176 and recommend a buy with a stop below Rs 165. I have one sell call that is on Godrej Consumer, very bearish candlestick pattern yesterday, could decline to about levels of Rs 625 and can be shorted with a stop at Rs 662,” he said.
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