Mitesh Thakkar: BUY Cholamandalam Investment, Divi’s, Tata Steel and Bosch
Market analyst Mitesh Thakkar has suggested four BUY calls for today’s trade. Indian markets are expected to open strong on Tuesday. US markets closed slightly positive on Monday but Asian markets have been trading strong. European markets could positively surprise during the afternoon session as majority of European economies have opened up after the lockdown. German government could announce stimulus package to help the industry come out of the distress caused by COVID-19 pandemic.
Thakkar has pharmaceutical major Divi’s Labs on his buying list for the trading session. Traders can initiate a BUY trade in Divi’s Labs a stop loss of Rs 2,425, target at Rs 2,600.
Other stock on Thakkar’s radar for the trading session is financial services major Cholamandalam Investment. Traders can BUY Cholamandalam Investment with a stop loss of Rs 144, target at Rs 162.
Thakkar also suggests traders to Buy Tata Steel with a stop loss of Rs 309, target at Rs 328. Market expert Ashwani Gujral has also suggested a BUY Call for JSW Steel for today’s trade.
Automobile components major Bosch is on Thakkar’s buy list for the trading session. Traders can initiate a BUY trade in Bosch with a stop loss of Rs 10,000, target at Rs 11,000.
Indian markets are expected to close positive for the trading session. We can see 10,000 levels for NSE Nifty intraday but it will need a lot of buying support for Nifty to stay above these levels, not seen for many weeks. Indian markets have consolidated in the recent trading sessions and we have seen renewed buying interest in many companies. Many sectors have outperformed the broader market and with NSE Nifty pulling back from 7,500 levels during May, we can see some strong stocks in the upcoming weeks.