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

He shared his views and readings on ICICI Lombard General Insurance Co, Ajanta Pharma, Cummins India, and Motherson Sumi Systems.

“ICICI Lombard General Insurance Co that is close to making a fresh high that possibly could be bought with a stop below Rs 1,080 and here I would look for targets closed to about Rs 1,155-1,160 on the upside. The other stock which like which had a very big price and volume action was Ajanta Pharma. It managed to get pass the Rs 1,055-1,060 resistance mark that is a buy with a stop below Rs 1,050 and look for targets of around Rs 1,125 on the upside. On the downside we had a breakdown of sorts happening on the charts of Cummins India, so that could be shorted keep a stop just above Rs 720 and look for targets of around Rs 670 on the downside. My trading call would be sell on Motherson Sumi keep a stop at about Rs 144 and look for targets around Rs 133.”

Follow stock recommendations by Mitessh Thakkar here: https://www.cnbctv18.com/author/mitessh-mthakkar-111/

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First Published:May 3, 2019 8:45 AM IST