Ashwani Gujral: BUY Axis Bank, Kotak Mahindra Bank, Reliance, Jubilant FoodWorks and Manappuram Finance
Market expert Ashwani Gujral has suggested five BUY calls for today’s trading session. Indian markets are expected to open slightly lower today as SGX Nifty trends suggest slight weakness. US market declined nearly one percent in yesterday’s trade. Indian markets could trade in a small range today with closing in the red.
Ashwani Gujral suggests traders to initiate a Buy trade in Kotak Mahindra Bank with a stop loss of Rs 1,320, target at Rs 1,365. From private banking segment, Gujral has suggested BUY call for Axis Bank. Traders can Buy Axis Bank with a stop loss of Rs 420, target at Rs 450.
Gujral has also suggested BUY call for Reliance Industries with a stop loss of Rs 1,560, target at Rs 1,595. As Reliance has announced 8 private deals for stake sale in its Jio Platforms venture, the stock has jumped. Reliance has also recently concluded the biggest ever Rights Issue in India. As the company is on track for its debt-free plans, investors have shown confidence in the biggest stock market listed company in India.
Jubilant FoodWorks, Domino’s Pizza main franchisee in India, is also on Gujral’s radar for the trading session. Traders can Buy Jubilant FoodWorks with a stop loss of Rs 1,690, target at Rs 1,745.
Gujral has suggested BUY Call for small finance and gold finance company Manappuram Finance with a stop loss of Rs 138, target at Rs 152. The company recently announced its plans to raise funds and the stock price has firmed up after the news.