Ashwani Gujral: BUY SBI, Axis Bank, ICICI Bank, SELL Cipla and Jubilant FoodWorks
Market analyst Ashwani Gujral has suggested three BUY Calls and two SELL Calls for today’s trading session. Indian markets are expected to open negative today and we could see some selling pressure at higher levels. However, markets would be stock-specific as quarterly results are underway. Dow Jones closed nearly 1.5 percent lower on Monday and Asian markets have been trading negative this morning.
Gujral has suggested three BUY Calls for banking stocks only. Banking stocks are looking technically strong but if the market declines by more than 150 points on NSE Nifty, we could also see a decline in banking counters. Gujral has suggested Buy for private banking major ICICI Bank with a stop loss of Rs 410, target at Rs 435. Gujral has also suggested BUY Call for private banking counter Axis Bank with a stop loss of Rs 486, target at Rs 510.
PSU banking major and the largest banking in India is also on Gujral’s radar for the day. Traders can BUY SBI with a stop loss of Rs 199, target at Rs 214, as per Gujral.
For pharmaceutical major Cipla, Gujral has suggested a SELL Call. Traders can SELL Cipla with a stop loss of Rs 770, target at Rs 745, as per Gujral. Traders can SELL Jubilant Foodworks with a stop loss of Rs 2,275, target at Rs 2,200, as per Gujral.
All trades should be carried out with strict Stop Loss. In case the trade doesn’t happen as per expectations, it is good to exit the trade if the call is in profit. TopNews will review performance of trading calls by the end of the trading session.