Chandan Taparia: BUY Mahindra & Mahindra and Larsen & Toubro
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 continue with the bull run during the opening session today. Market sentiment is positive and Asian stocks were trading firm this morning. Indian markets are expected to open at another all-time high for major indices. Stock specific action can be expected in the markets today.
Taparia has suggested BUY Call for infrastructure major Larsen & Toubro at current price for target of Rs 2,580 with Stop Loss at Rs 2,435. The stock can even cross Rs 2,600 in case markets remain firm, as per Taparia.
Taparia has suggested BUY Call for automobile major Mahindra & Mahindra at current price with target of Rs 1500. The Stop Loss has been suggested at Rs 1415. The stock is looking strong on the charts. M&M has reported strong growth in passenger vehicle sales during June. The company also registered strong tractor sales.
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.