Ashwani Gujral: BUY HUL, Sun Pharma, Tech Mahindra; SELL IndusInd Bank and Axis Bank
Market expert Ashwani Gujral has suggested three BUY calls and two SELL calls for traders today. Dow Jones jumped by nearly 2 percent on Friday and Asian markets have opened strong today. Indian markets are expected to open strong today but we could see selling pressure at higher levels. Overall outlook for today is positive for Indian markets as lockdowns have been eased and workers are returning to factories.
Ashwani Gujral has suggested BUY Call for FMCG major HUL. During lockdowns, grocery shopping has been on top of list for majority of Indians and some market experts even expect higher sales for some FMCG companies. Gujral suggests Buy for HUL with a stop loss of Rs 2,050, target at Rs 2,170. Other stock on Gujral’s BUY list for the day is technology major Tech Mahindra. Tech Mahindra recently announced that its staff would continue working from home till 2021 and 90% of its staff was working from home during lockdown. Gujral suggests Buy for Tech Mahindra with a stop loss of Rs 530, target at Rs 555.
Pharmaceutical stocks have been on investors’ radar during COVID-19 pandemic with some stocks touching 52-week high. Traders can Buy Sun Pharma with a stop loss of Rs 460, target at Rs 485.
Gujral has two private banks on his SELL list for the trading session. Traders can Sell Axis Bank with a stop loss of Rs 390, target at Rs 365. Gujral also suggests Sell IndusInd Bank with a stop loss of Rs 450, target at Rs 425.
TopNews will review the performance of trading calls by the end of the trading session.