Buy call on IRB Infra: Mitesh Thacker

Mitesh Thacker, Technical Analyst, miteshthacker.com, in a chat with ET Now gives his stock call


What are your stock recommendations?

It has got to be all buy ideas. We are clearly enjoying and seeing good momentum on the upside. The first one is CNX IT. Today it is trading past 6500, clearly giving a breakout on the intraday charts and CNX IT Futures can be bought with a stop below 6500 or 6494 is the level which I have mentioned and a price target of 6700 over there. IRB Infra is another stock which is breaking out of few days of consolidation. Buy this with a stop at Rs 177 for a price target of Rs 188. I would be willing to look at Tata Motors from a trading perspective above Rs 280, so around Rs 283-283.5 this one can be bought with a tight stop of Rs 277, price target of 300 likely over here. Lupin is getting into all time highs, breakout above Rs 490 should be very good in case it closes above those levels. The stock will get into a medium term uptrend. So I would start accumulating the stock with a stop at Rs 486 and a price target of Rs 542 to begin with.