The latest analysis and commentary by stock market guru Mitessh Thakkar of mitesshthakkar.com on what is moving the markets today.

According to Mitessh, 10,400 to about 10,550-10,600 should be the new range. He said, “In that range I think we have a mild upward bias in the sense that we might test the upper end of the range first.”

Mitessh said that the idea on the indices should be to buy on dips. He believes that Nifty close to 10,430-10,450, becomes a buying zone. He advised a stop below 10,400 and target of 10,600.

Check out his top stock recommendations.

Axis Bank is a buy with a stop of Rs 540 and target of Rs 570.

Godrej Industries is a buy with a stop of Rs 555 and target of Rs 608.

Ramco Cement is a buy with a stop of Rs 806 and target of Rs 875.

Tata Elxsi is a buy with a stop of Rs 1,051 and target of Rs 1,100.

Dr Reddys is a sell with a stop of Rs 2,090 and target of Rs 1,980.