Chandan Taparia: BUY Dr Reddy’s and Bharti Airtel
Market expert Chandan Taparia from Motilal Oswal Financial Services has suggested two BUY Calls and no SELL Call for short term traders. Indian markets are expected to open flat today and we can witness a range-bound session. There can be stock specific moves in the market today. Shree Cement stock is set to decline as the company is facing income tax surveys.
Taparia has suggested BUY Call for pharmaceutical major Dr Reddy’s Labs at current price for target of Rs 5200 with Stop Loss at Rs 4900. Dr Reddy’s has been suggested as BUY Call by market analyst Mitessh Thakkar as well. The stock is looking strong on the charts.
Taparia has suggested BUY Call for telecom major Bharti Airtel at current price with target of Rs 910. The Stop Loss has been suggested at Rs 837. Bharti Airtel recently announced its plans to raise money from overseas market to expand its 5G network and reduce expensive debt. The stock is looking strong on the charts. Even the medium-term view on Bharti Airtel is positive as 5G network has picked up pace across India.
All trades should be conducted with strict Stop Loss. Markets can have unpredicted moves based on news and trends in the global markets. Stop Loss is an important strategy to reduce the risk in case the stock doesn’t move as per the call given by market experts.