Stock market expert Mitessh Thakkar of mitesshthakkar.com recommended a sell call on a couple of PSU banks. He is positive on some private banks. Check out his top stock recommendations.
I have a 'sell' call on a couple of PSU banks. Bank of Baroda has broken the key support levels of Rs 991. So, keep a stop at Rs 91 and look for targets of Rs 82.
Same pattern on the charts of Bank of India. It has broken key support of Rs 62.5. So, keep a stop at Rs 62.80 and look for targets of Rs 56. The intraday charts have weakened a bit. So, on a mild bounce to about Rs 1,255, take a short with a tight stop at Rs 1,271 and look for Rs 1,220 as the target.
Kotak Mahindra Bank
The solitary buy call is on Kotak Mahindra Bank which has declined to close to about support levels. So, on mild declines of Rs 1,555, I think that is the area to buy and keep a stop at Rs 1,534 and look for a pullback from there to about levels of Rs 1,590.”
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