Ashwani Gujral: BUY Bharti Airtel, BEL; SELL IndusInd Bank, LIC Housing and PVR
Market analyst Ashwani Gujral has suggested two BUY Calls and three SELL Calls for the trading session. SGX Nifty trend suggests slightly lower opening for Indian markets. Many market analysts have turned negative on the fiscal stimulus announced by Indian government as the major part of the package is non-cash component. As the Finance Minister started offering details of stimulus package, it became clear that majority of business segments won’t get enough help from government. Indian government has announced some good measures to help the economy but many market experts feel that these aren’t enough.
Gujral has suggested Buy for BEL with a stop loss of Rs 64, target at Rs 76. Other stock on Gujral’s buying list for the day is telecom services major Bharti Airtel. Traders can Buy Bharti Airtel with a stop loss of Rs 548, target at Rs 572. Please do keep a strict stop loss for all the trades. Indian markets are highly volatile and the loss in any trade could be big in absence of stop loss.
IndusInd Bank has been in focus for the last few weeks. Trading volume has been very high and so has been volatility in this counter. It offers a good opportunity for day traders. Gujral suggests Sell trade for IndusInd Bank with a stop loss of Rs 424, target at Rs 400. Gujral has also suggested Sell for LIC Housing with a stop loss of Rs 258, target at Rs 244.
As lockdowns have been extended and many people won’t be returning anytime soon to multiplexes, some movies have been released online and they have done good business. This questions the business model of multiplexes and could have a lasting impact on their revenue as film makers go for online releases in future. Multiplex operator PVR is also on Gujral’s selling list for the trading session. Traders can Sell PVR with a stop loss of Rs 862, target at Rs 835, as per Gujral.