Mitessh Thakkar: BUY Glenmark Pharma, MGL; SELL IDFC First Bank and Bharat Electronics
Market analyst Mitesh Thakkar has suggested two BUY Calls and two SELL Calls for short term investors and traders. Indian markets are expected to open positive today and the local markets could also see positive closing, depending on trend in the European and US futures. US market has been moving sideways over the last few trading sessions. Nasdaq is still under pressure while Dow Jones is showing strength. European markets are showcasing positive trends.
Thakkar has suggested BUY Call for Glenmark Pharmaceuticals at current price for target of Rs 465-470 with Stop Loss at Rs 948. The stock is looking strong on the charts and has gained ground in the last couple of weeks. Thakkar has suggested BUY Call for Mahanagar Gas Limited at current price for target of Rs 1010 with Stop Loss at Rs 964.
Thakkar has suggested SELL Call for Bharat Electronics at current levels with Stop Loss at Rs 92 with target price of Rs 85. Thakkar has suggested SELL Call for IDFC First Bank at current price with target price of Rs 49 and Stop Loss at Rs 54.
All trades should be conducted with strict Stop Loss. Markets can have unpredicted moves based on news and trends in the global markets. Stop Loss is an important strategy to reduce the risk in case the stock doesn’t move as per the call given by market experts.