homemarket Newsstocks NewsTata Power, Tata Motors, Tech Mahindra, Zee among Mitessh Thakkar's top picks now
Tata Power, Tata Motors, Tech Mahindra, Zee among Mitessh Thakkar's top picks now
In an interview with CNBC-TV18, Mitessh Thakkar of earningwaves.com shared six 'buy' calls: Zee Entertainment, Tech Mahindra, HCL Technologies, Tata Motors, Tata Power and Indian Hotels.
The current rally in the market may go on with the pullback even extending to "slightly higher levels", Mitessh Thakkar of earningwaves.com told CNBC-TV18. He believes the overall structure of the market does not appear to be positive from a medium-term perspective. "I would not be aggressive in going long,” Thakkar said.
He has six 'buy' recommendations now: Zee Entertainment, Tech Mahindra, Tata Motors, Tata Power, Indian Hotels and HCL Tech.
Thakkar, who has been recommending Zee Entertainment in the recent past, said the media stock has given a good pullback now close to the support pivot of Rs 326. He recommends buying Zee for a target of Rs 350 with a stop loss at around Rs 324.
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"HCL Technologies is seeing a good follow-through after a pullback. That's a 'buy' now for a target of around Rs 1,175-1,180 with a stop loss below Rs 1,140.
The decline in Tata Motors would be a good entry opportunity, he said.
He suggests investors to buy the stock whenever it returns to the Rs 460-435 range. His first target price for Tata Motors is Rs 540, but he expects it to go to Rs 610 and even 650-plus levels eventually. "Keep a stop loss below Rs 420-415," he said.
He sees a buying opportunity in Tata Power. "The stock has medium-term support close to Rs 200-190 levels. Any declines to Rs 210-200 levels should be a good buying opportunity... The stock should not only eventually hit Rs 260 again but also head towards Rs 325-350 levels... Keep a stop loss below Rs 180,” he said.
Thakkar suggests buying Indian Hotels shares on declines close to Rs 170-165 levels for a target of Rs 230 with a stop loss below Rs 155.
For the full interview, watch the accompanying video.
Catch all market updates here.
(Edited by : Sandeep Singh)
First Published: Nov 30, 2021 3:29 PM IST
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