Nifty may see 6120-6150 on the upside: Mitesh Thacker

In a chat with ET Now, Mitesh Thacker of miteshthacker.com, shares his views on market and stock specific recommendations.

ET Now: What is your own sense of trade this after noon, also what would you recommend in terms of stock specific activity?

Mitesh Thacker: We have been maintaining a mild positive bias on the Nifty. It has worked out nicely. The important thing today to note technically is that we have had a minor breakout on the Bank Nifty. That is the positive sign. So the targets on the upside is 6120-6150, possibly Bank Nifty could now play some kind of major part in the last 100-150 points on the Nifty and for the short term, the bias should remain on the upside.

The good part is that market breadth has improved in these last few days and that points that possibly the momentum in the short term is likely to enjoy on the upside.

I have got two buy calls today, one of them is Biocon with a stop at 288, I would like to buy it for targets of around 307 and I have got a buy on Axis Bank with a stop at 1294 for targets of around 1350.