Buy Mangalam Cement with a target at Rs 245: Jay Thakkar

In a chat with ET Now, Jay Thakkar, Senior Technical Analyst, Sharekhan, says buy Mangalam Cement with a target of Rs 245 and a a stop loss at Rs 215



ET Now: What are your top trading picks?

Jay Thakkar: I have buy recommendation on Mangalam Cement. Cement stocks are really buzzing and they are in a good upward momentum. This is one stock which has touched exactly the breakout level of a triangle pattern and has started its impulse move on the upside. It is currently trading in its wave four and I am expecting a pending wave five target on the upside which comes to around Rs 245. That is its next swing high and for that one can place a stop loss at Rs 215.