Ashwani Gujral: BUY SBI, HDFC Bank, M&M, ICICI Bank and HUL

Ashwani Gujral: BUY SBI, HDFC Bank, M&M, ICICI Bank and HUL

Market expert Ashwani Gujral has suggested five BUY Calls for the trading session and no SELL call, suggesting a strong positive undertone for Indian stocks. NSE Nifty scaled the important and sentiment improving level of 10,000 in yesterday’s trade. We could see NIFTY trying to breach the next resistance of 10,300 in the coming sessions. At higher levels, selling pressure could be witnessed. US Stocks jumped yesterday as traders expect additional stimulus from US government. Protests in support of Black Community and against brutal police action have been witnessed across the United States and situation has gone out of control in many cities with protestors damaging public and private property.

Traders can BUY automobile major M&M with a stop loss of Rs 480, target at Rs 505. M&M has witnessed renewed buying interest in the recent trading sessions after the company announced impressive sales numbers for the farm vehicles. M&M was even on Gujral’s buying list yesterday.

Gujral also has two private banking stocks on his BUY list for the trading session. Traders can Buy ICICI Bank with a stop loss of Rs 350, target at Rs 372. Buy HDFC Bank with a stop loss of Rs 1,000, target at Rs 1,065.

Gujral has also suggested BUY call for PSU banking major SBI with a stop loss of Rs 170, target at Rs 184. Traders can also initiate a BUY trade in FMCG major HUL with a stop loss of Rs 2,100, target at Rs 2,165.

TopNews will review trading call performance by the end of the trading session. Traders should keep strict stop loss for all the trades due to higher market volatility.