Ashwani Gujral: BUY Reliance, Axis Bank, Jubilant Foods, Havells and Motherson Sumi
Market analyst Ashwani Gujral has suggested five BUY calls and no SELL call for the trading session, suggesting a strong positive sentiment for Indian markets. Indian markets have been gaining ground over the last few trading sessions. Dow Jones closed almost one percent higher on Tuesday. Indian markets are expected to open strong today and we could see Nifty scaling 10,000 level in today’s trade. The next major resistance for NSE Nifty is 10,300.
Gujral has suggested BUY call for Axis Bank with a stop loss of Rs 405, target at Rs 430. PSU and private sector banks have been in focus for the last few trading sessions and these counters have witnessed renewed buyer interest. Many PSU banks have jumped from their recent lows and momentum could be seen even in private banks.
Other stock on Gujral’s Buy list for the day is Reliance Industries. Reliance managed to fulfill its Rights Issue and the company is on track to reduce its debt as per plans of Mr. Mukesh Ambani. Traders can BUY RIL with a stop loss of Rs 1,520, target at Rs 1,565.
Domino’s Pizza main franchisee in India, Jubilant Foods is also on Gujral’s radar for the day. Traders can BUY Jubilant Food with a stop loss of Rs 1,680, target at Rs 1,750. Gujral has also suggested BUY Call for Motherson Sumi with a stop loss of Rs 96, target at Rs 108. Electrical equipment maker Havells is also in focus. Traders can BUY Havells with a stop loss of Rs 540, target at Rs 575.
TopNews will review performance of trading calls by the end of the trading session. Traders should keep strict stop loss for all the trades.