Ashish Chaturvedi: BUY ICICI Bank, PNB Housing, PAYTM and IGL
Market expert Ashish Chaturvedi has suggested four BUY Calls and no SELL Call for short term investors and traders. Indian markets are expected to open negative today and we can witness further selling in the markets. The support for NSE Nifty is seen at 19650 and 19600 levels. The trend in markets would also depend on the opening of European markets and US futures. Indian markets have been trading firm for the last few weeks with little correction. Many market participants are looking forward to a healthy correction and this could lead to fresh buying at lower levels. The overall trend in Indian markets is positive.
Chaturvedi has suggested BUY Call for private banking major ICICI Bank at current levels for target of Rs 1015 with Stop Loss at Rs 995. The stock is looking strong on the charts and can offer decent returns in short term. Banking stocks have been in focus over the last few weeks and Bank Nifty has been hovering around yearly highs. Chaturvedi has suggested Long Term BUY Call for PNB Housing at current price for target of Rs 750 with holding period of 9-12 months. The stock is looking fundamentally strong.
Chaturvedi has suggested BUY Trade for PAYTM at current price for target of Rs 855 with Stop Loss at Rs 840. The stock is looking good on technical charts and can offer decent returns to short term traders. The news on the counter is positive and could offer strength.
Chaturvedi has suggested short term BUY Call for PSU energy counter IGL at current price for target price of Rs 505 with Stop Loss at Rs 490.
All trades should be conducted with strict Stop Loss. Markets can have unpredicted moves based on news and trends in the global markets. Stop Loss is an important strategy to reduce the risk in case the stock doesn’t move as per the call given by market experts.