BUY Reliance, SELL HDFC BANK, ICICI Bank, Axis Bank and HDFC: Ashwani Gujral
Market analyst Ashwani Gujral has suggested BUY call for Reliance Industries and SELL Call for three major private banks in India. Indian market is expected to trade positive in today’s trading session after a massive fall on Monday. US markets closed down as traders were waiting for government action on Stimulus plan. However, Dow Futures was trading high as there seems to be consensus between Democrats and Republicans and minor differences could be resolved soon.
Ashwani Gujral suggests BUY Call for RIL with a stop loss of Rs 840, target at Rs 960.
Among Selling calls, Gujral has private banks on his radar. Gujral suggests traders to Sell HDFC Bank with a stop loss of Rs 2,020, target at Rs 1,800. Traders can also sell ICICI Bank with a stop loss of Rs 300, target at Rs 260.
Gujral has also suggested SELL for HDFC with a stop loss of Rs 1,580, target at Rs 1,350.
Axis Bank is also on Gujral’s list of stocks to sell and recover lower for today’s trading session. Traders can Sell Axis Bank with a stop loss of Rs 320, target at Rs 260.
Indian markets could close 2-3 percent higher today after a massive fall yesterday. Today’s trade would be strong due to strength in the Dow Jones futures and stronger Asian markets.