Sudarshan Sukhani: BUY M&M, Divi’s Labs; SELL Sun TV, Tata Chemicals
Technical analyst Sudarshan Sukhani has suggested two BUY calls and two SELL calls for today’s trading session. Indian markets are expected to open low today and we could see small correction in select stocks. Markets aren’t able to cross major resistance levels for NSE Nifty and quarterly results will decide the direction of markets. Supermarket chain run by Radhakishan Damani has posted negative results and markets are expecting that the retail chain could take longer than expected to bounce back from COVID-19 declines.
Sukhani has suggested BUY Call for Divi’s Labs as the stock is looking strong on the charts. Traders can Buy Divi's Lab with a stop loss of Rs 2,190, target at Rs 2,290. Other stock on Sukhani’s buying list is automobile major Mahindra & Mahindra. Traders can Buy M&M with a stop loss of Rs 540, target at Rs 570.
Sukhani has suggested SELL call for Tata Chemicals and South India based broadcaster SUN TV. Traders can SELL Tata Chemicals with a stop loss of Rs 304, target at Rs 293. Traders can initiate a Sell trade in Sun TV with a stop loss of Rs 397, target at Rs 382.
TopNews will review trading call performance by the end of the trading session. Trades should be carried out with strict Stop Loss. Markets are highly volatile and if the trade doesn’t go as planned, Stop Loss is a good strategy to minimize loss in trading.