Mitesh Thakkar: BUY HDFC Life, Berger Paints; SELL Kotak Mahindra Bank and SAIL
Market analyst Mitesh Thakkar has suggested two BUY Calls and two SELL Calls for today’s trading session. Indian markets are expected to range in a small range today and we could see selling pressure at higher levels. Market participants are expecting a correction in stocks and there isn’t much of steam left to take the BSE Sensex above 40,000 levels for the moment. We could see a healthy correction first and then we can expect further rally if the quarterly results are better than market expectations.
Thakkar has suggested BUY Call for Berger Paints with a stop loss of Rs 566, target at Rs 590. Other stock on Thakkar’s buying list for the session is HDFC Life. Traders can BUY HDFC Life with a stop loss of Rs 593, target at Rs 620.
Thakkar has suggested SELL trade for steel major SAIL with a stop loss of Rs 39.6, target at Rs 36.5. Other stock on Thakkar’s selling list for the day is private banking major Kotak Mahindra Bank. Traders can SELL Kotak Mahindra Bank with a stop loss of Rs 1,342, target at Rs 1,290, 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.