Mitesh Thakkar: BUY IGL; SELL Sun Pharma, Aurobindo Pharma and City Union Bank
Market analyst Mitesh Thakkar has suggested one BUY Call and three SELL Calls for today’s trading session, suggesting a bearish outlook for Indian markets. Global markets turned negative yesterday with European indices losing nearly 2 percent. Nasdaq and Dow Jones also declined during the start of the session but a recovery was witnessed towards the end of the trading session. Global mood has turned cautious and we can expect Indian markets to open lower today.
Thakkar has suggested one BUY Call for IGL for today’s trade. Traders can BUY IGL with a stop loss of Rs 568, target at Rs 600, as per Thakkar.
Thakkar has suggested SELL Trade for small private banking counter City Union Bank with a stop loss of 166, target at Rs 55.
Thakkar has suggested SELL Calls for two pharmaceutical majors. Traders can SELL Sun Pharma with a stop loss of Rs 675, target at Rs 645. Thakkar also suggests SELL Trade for Aurobindo Pharma with a stop loss of Rs 962, target at Rs 930.
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.