Mitesh Thakkar: BUY HCL Technologies, Godrej Consumer; SELL Bajaj Finance and ONGC
Market analyst Mitesh Thakkar has suggested two BUY Calls and two SELL Calls for today’s session. Indian markets are expected to trade lower today, especially after yesterday’s big decline. The technology sector could offer support to markets as these companies are expected to announce strong quarterly performance in a couple of weeks. Banking and financial services stocks could drag the markets today.
Thakkar has suggested BUY Call for HCL Technologies as the stock is trading above any major resistance levels. The stock receives strong support at lower levels and can bounce back quickly as the market mood turns positive. Traders can BUY HCL Tech with a stop loss of Rs 793, target at Rs 825. Thakkar has also suggested BUY Call for FMCG major Godrej Consumer with a stop loss of Rs 675, target at Rs 710.
Thakkar has suggested Sell Call for energy PSU ONGC with a stop loss of Rs 73.4, target at Rs 66. Other stock on Thakkar’s selling list for the session is Bajaj Finance. Traders can SELL Bajaj Finance with a stop loss of Rs 3,350, target at Rs 3,235.
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.