Coal India, Tata Motors, HDFC Life and TCS on SELL List of Mitesh Thakkar
Market Analyst Mitesh Thakkar has four stocks on his selling list in today’s session. Thakkar has bearish view on Coal India, Tata Motors, HDFC Life and TCS. Technology counter TCS hasn’t declined much in the recent market meltdown. So, there is still an opportunity for selling at current levels.
Mitesh Thakkar suggests SELL for TCS with a stop loss of Rs 2001 for target of Rs 1922. Thakkar expects TCS to correct around 4 percent from its current level. However, traders should keep strict stop loss.
In his latest comments, Thakkar has also suggested SELL call for Coal India with a stop loss of Rs 162 for target of Rs 150.
For automobile major Tata Motors, Thakkar feels that there is still a chance for further decline. Automobile companies have been declining for the last few months, mainly due to lower sales and introduction of new norms by Indian government. Thakkar suggested SELL for Tata Motors with a stop loss of Rs 109 for target of Rs 100.
For HDFC Life, Thakkar has SELL Call with a stop loss of Rs 525 for target of Rs 500. HDFC Life is looking weak on the charts.
Indian market is rangebound today after declining for last three trading sessions. Indian markets are expected to get support from lower levels and we could see Indian markets tracking the trend in global markets.