Ashwani Gujral: Buy IndusInd Bank, Axis Bank, Pidilite, Piramal Enterprises and RBL Bank
Market analyst Ashwani Gujral has suggested five BUY Calls for traders today. Indian markets closed strong on Monday and many regions across the world are reducing the restrictions led by coronavirus pandemic. In India, many companies have been allowed to operate under strict conditions for safety of employees. Market participants are confident that coronavirus impact will start fading away in many regions except United States in the coming days.
Traders can BUY private sector banks IndusInd Bank, RBL Bank and Axis Bank for the trading session as per Gujral. Gujral suggests BUY call for IndusInd Bank with a stop loss of Rs 400, target at Rs 425. For Axis Bank, Gujral suggests BUY with a stop loss of Rs 420, target at Rs 445. Gujral has also suggested BUY Call for RBL Bank. Traders can BUY RBL Bank with a stop loss of Rs 112, target at Rs 124.
Other stock on Gujral’s radar for the day is Pidilite Industries. Traders can BUY Pidilite Industries with a stop loss of Rs 1,520, target at Rs 1,580.
Traders can also initiate a trade in Piramal Enterprises a stop loss of Rs 895, target at Rs 940.
Indian markets are expected to trade in a range and we could see selling pressure at higher levels. Market will also depend on the sentiment in European markets.