Ashwani Gujral: BUY NIIT Tech, Britannia, SELL IndusInd Bank, PowderGrid and M&M

Ashwani Gujral: BUY NIIT Tech, Britannia, SELL IndusInd Bank, PowderGrid and M&M

Market analyst Ashwani Gujral has given BUY calls for NIIT Technologies and FMCG major Britannia. Gujral has also given SELL calls for intraday traders for automobile major M&M, power company PowerGrid and private bank IndusInd Bank.

IndusInd Bank hit 52-week low and 25% lower circuit yesterday after news came that bank CEO and MD had resigned. However, after the stock hit circuit filter, it recovered most of the losses and even traded in positive territory for some time. IndusInd Bank is certainly looking weak and the stock can offer opportunity to traders to sell the stock and recover at lower levels. As per Ashwani Gujral, traders can Sell IndusInd Bank with a stop loss of Rs 320, target at Rs 295.

Real estate sector could face troubles due to coronavirus but those are expected to be short or medium term issues. As per ANAROCK, Indian real estate companies will suffer due to closure of malls and multiplexes. As per ANAROCK, the top 8 main cities of India have 126 malls sprawling over more than 61 mn sq. ft. area, and more than 100 malls have multiplexes attached. Wherever it has been mandated, there will therefore be a high number of establishments that need to shut down for operations. Even short-term closures will have significant financial implications.

Gujral suggests traders to Buy NIIT Tech with a stop loss of Rs 1,000, target at Rs 1,045. For FMCG major Britannia, Gujral has Buy Call. Traders can Britannia with a stop loss of Rs 2,300, target at Rs 2,450.

In two more sell calls, Gujral has automobile major M&M with a stop loss of Rs 280, target at Rs 255. Gujral also suggested traders to SELL PowerGrid with a stop loss of Rs 152, target at Rs 138.

Please keep strict stop loss for all the trades. Markets are very volatile these days and keeping a stop loss is the only way to minimize losses in case the trades don’t go as planned.