Ashish Chaturvedi: BUY Avenue Supermarts, Cummins India, Indian Hotels; SELL Dr Reddy’s
Market expert Ashish Chaturvedi has suggested three BUY Calls and one SELL Call for today’s trading session. Indian markets are expected to open strong today and we could see NSE Nifty trading above 17000 levels. Nifty is showing strength and after crossing major resistance of 16800 yesterday, we can expect further gains. US markets closed positive on Thursday. Global markets have probably factored in the rate hike risks and markets are looking bullish. Asian stocks were trading mixed this morning.
Chaturvedi has suggested BUY Call for Avenue Supermarts at current price for target of Rs 4450 with Stop Loss at Rs 4090. The stock is looking strong on the charts. Chaturvedi has suggested long term BUY Call for Cummins India at current levels for target price of Rs 1500. The suggested holding period for this call is 12 months.
Chaturvedi has suggested long term BUY Call for Indian Hotels at current levels for target price of Rs 300. Holding period for this call has been suggested at one year.
Chaturvedi has suggested SELL Call for pharmaceutical major Dr Reddy’s Futures Contract at current price for target of Rs 4170 with Stop Loss at Rs 4320.
All trades should be carried out with strict Stop Loss. In case the trade doesn’t happen as per expectations, it is good to exit the trade if the call is in profit. TopNews will review performance of trading calls by the end of the trading session.