Chandan Taparia: BUY ICICI Bank, Trent, Dr Reddy’s and Reliance Industries
Market analyst Chandan Taparia has suggested four BUY Calls and no SELL Call for short term investors and traders. Indian markets are expected to open strong today as the global trend has turned positive. Indian markets have managed to close above major resistance levels last week and we can expect markets to see buying at the current levels. The sentiment is surely looking positive but it would also depend on trends in the European markets today. US markets closed strong on Friday. European markets are also looking positive. Indian markets can have volatile session but market sentiment should remain positive.
Taparia has suggested BUY Call for private banking major ICICI Bank at current levels for target of Rs 920 with Stop Loss at Rs 863. The stock is looking strong on the charts. Taparia has suggested BUY trade for Dr Reddy’s Labs at current price for target of Rs 4740 with Stop Loss at Rs 4600.
Taparia has suggested BUY Call for Trent at current price for target of Rs 1444 with Stop Loss at Rs 1350.
Taparia has suggested BUY Call for Reliance Industries at current levels for target of Rs 2400 – 2450. Taparia hasn’t suggested Stop Loss for this trade but traders can choose as per their risk profile.
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.