Mitesh Thakkar: BUY Deepak Nitrite, Dr Reddy’s, Sun Pharma; SELL JSW Steel
Market analyst Mitesh Thakkar has suggested three BUY Calls and one SELL Call for today’s trading session. Indian markets are expected to open flat today and we can expect a range-bound session. US markets closed mixed yesterday and Asian stocks have been trading slightly positive today. A correction in Indian stocks is long overdue as many stocks are looking expensive at current levels. However, as global markets have been trading firm, Indian stocks are also staying at higher P/E levels.
Thakkar has suggested BUY Call for pharmaceutical major Dr Reddy's with a stop loss of Rs 5,500, target at Rs 5,750. Other stock from pharmaceutical sector on Thakkar’s list is Sun Pharmaceutical. Traders can BUY Sun Pharma with a stop loss of Rs 678, target at Rs 699, as per Thakkar.
Traders can initiate a BUY Trade for Deepak Nitrite with a stop loss of 1,850, target at Rs 1,950.
Thakkar has suggested SELL trade for JSW Steel with a stop loss of Rs 686, target at Rs 655.
All trades should be carried out with strict Stop Loss. In case the trade doesn’t happen as per expectations, it is good to exit the trade if the call is in profit. TopNews will review performance of trading calls by the end of the trading session.