Mitesh Thakkar: BUY GMR, IDFC First Bank, Hindustan Unilever; SELL Grasim
Market expert Mitesh Thakkar has suggested three BUY Calls and one SELL call for today’s trading session. Asian markets have opened mixed and we can expect slightly positive opening for Indian markets. The markets have witnessed a strong rally over past couple of months and we are witnessing a consolidation around current levels. Many mid-cap and small-cap stocks have seen buying the recent weeks and overall market sentiment is positive. We can expect next major trigger from COVID-19 vaccine as trials have been going on in many countries.
Thakkar has suggested BUY Call for FMCG major Hindustan Unilever with with a stop loss of Rs 2,185, target at Rs 2,260. FMCG companies have positively surprised markets with the sales and profit record during COVID-19 lockdowns. As the sales of FMCG goods were strong, traders were expecting rally in these stocks. Some of the FMCG companies have touched new 52-week highs during the recent weeks.
Thakkar has suggested Buy Call for infrastructure company GMR with a stop loss of Rs 21.6, target at Rs 23.3. Other stock on Thakkar’s buying list for the day is IDFC First Bank. Traders can BUY IDFC First Bank with a stop loss of Rs 27.95, target at Rs 29.7.
Traders can Sell Cement major Grasim with a stop loss of Rs 593, target at Rs 5562, as per Thakkar.
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.