Ashwani Gujral: BUY HDFC Bank, Kotak Mahindra Bank, Axis Bank, Cholamandalam Finance & Bajaj Finance
Market analyst Ashwani Gujral has suggested private banking and financial services counters for today’s trade. Gujral has given five buy calls today, suggesting a bullish outlook from renowned market analyst.
Indian markets are expected to open slightly lower today as Asian markets have been trading mixed. SGX Nifty was trading 50 points lower during early trade. Dow Jones closed almost flat on Thursday.
The border issue between India and China could push many investors to stay out of market for the next few trading sessions. India and China are having conversation through multiple channels with an aim to peacefully settle the border dispute. As a retaliatory measure, India is considering increasing duties on many Chinese products.
Gujral is bullish on private banks for today’s session. We have seen private banks and PSU banks showing strength last week but we could see renewed momentum in select banking stocks. Gujral has suggested BUY Calls for today’s session for three private banks. Traders can Buy Kotak Bank with a stop loss of Rs 1,280, target at Rs 1,340. Another private bank on Gujral’s radar is HDFC Bank. Traders can Buy HDFC Bank with a stop loss of Rs 1,000, target at Rs 1,065. Buy Axis Bank with a stop loss of Rs 398, target at Rs 420, Ashwani Gujral suggests.
Gurjal suggests traders to Buy Bajaj Finance with a stop loss of Rs 2,500, target at Rs 2,610. Other counter from financial services sector on Gujral’s list is Cholamandalam Finance. Traders can BUY Cholamandalam Finance with a stop loss of Rs 172, target at Rs 186.
Traders should keep strict stop loss for all trades. TopNews will review trading call performance by the end of the trading session.