Kushal Gupta: BUY Tata Power, Indraprastha Gas; SELL Britannia and Bandhan Bank
Market expert Kushal Gupta has suggested two BUY Calls and two SELL Calls for today’s trading session. Indian markets are expected to open flat today but we can also witness selling pressure in the markets. US markets closed positive on Thursday but European stocks were trading low as Bank of England raised interest rates by 50 basis points. Indian markets declined during the afternoon trade yesterday and the session was volatile.
Gupta has suggested BUY Call for Indraprastha Gas at current levels for target of Rs 500 with Stop Loss at Rs 480. The stock is looking strong on technical charts and traders can expect decent move in this counter. Gupta has suggested long term BUY Call for Tata Power at current price for target of Rs 260 with holding period of 12 months.
Gupta has suggested SELL Call for FMCG major Britannia Industries at current levels for target of Rs 4850 with Stop Loss at Rs 5050.
Gupta has suggested SELL Trade for private banking counter Bandhan Bank at current price for target of Rs 230 with Stop Loss at Rs 242. The stock is looking weak on the charts.
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.