Buy Mindtree, Sell ITC, Avoid Infosys: Jay Thakkar

The Sensex has been on a downward spiral in the last three trading sessions and the benchmark indices have fallen below their 200-day moving average. Meanwhile, NDTV Profit spoke to Jay Thakkar, senior technical analyst at Sharekhan, to discuss trading strategies.

Stock Talk

Sell ITC: There are no sign of recovery as the stock is trading below its short-term moving averages. Momentum is in favour of bears and traders can go short on this stock with stop-loss at Rs 245 for immediate target of Rs 217 and below Rs 217 it can go down to Rs 210. 

Avoid Infosys: We do not have a positive outlook on this stock and will avoid recommend buying or selling this stock at current juncture.

Buy Mindtree: Long-term investors can buy Mindtree for target of Rs 850-900.

Disclaimer: Investors are advised to make their own assessment before acting on the information.