Sell MRF, Interglobe Aviation, Amara Raja, Vedanta; buy Sun Pharma: Mitessh Thakkar

Sep 15, 2017 11:48 AM IST | Source: CNBC-TV18

Mitessh Thakkar of mitesshthakkar.com is of the view that one can sell MRF, Interglobe Aviation, Amara Raja Batteries and Vedanta and buy Sun Pharmaceutical Industries.

Mitessh Thakkar of miteshthacker.com told CNBC-TV18, “I have a sell on MRF with a stop loss at Rs 64,400 for targets of around Rs 62,500. My belief is that the stock is getting corrected. The other stock, which I have a sell upon is Interglobe Aviation. There are some intraday sell signals, so sell with a stop loss at Rs 1,202, look for targets closer to about Rs 1,150.”

“Amara Raja Batteries has clearly been in a weak trend. So that is a sell as well, keep a stop loss at Rs 805.50 and look for targets close to about levels of Rs 740. In Vedanta again some intraday breakdowns are there, so sell with a stop loss at Rs 325.50 for target of Rs 306,” he said.

“I have one buy call, that is in Sun Pharmaceutical Industries where I would want to buy with a stop loss of Rs 509 for target of Rs 555,” he said.

“In Coal India, Rs 280 is the target and I could buy this one with a stop loss at Rs 252. Max Financial’s early morning intraday charts are very positive, strong buy signals are over there, a disclaimer that we have recommendations on both Coal India and Max Financial. I would buy with a stop loss at Rs 604, for targets of around Rs 660.”

“I would still want to buy into PTC India around Rs 115-117 mark, good support coming in over there and eventually it is poised to head towards more than Rs 140.”

“For the time being, the calls which I have are a buy on Canara Bank with a stop loss at Rs 343 for target of Rs 365. ONGC is giving a big move today, that is a buy with a stop loss at Rs 161 for targets close to about Rs 170-172.”

“Keeping a stop loss for Max Financial just below Rs 604, I would be a buyer for targets close to about Rs 650-655 to begin with, maybe even higher levels.”

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