Mitesh Thakkar: BUY M&M Finance, Sun Pharma; SELL Coal India and Godrej Properties
Market expert Mitesh Thakkar has suggested two BUY calls and two SELL calls for traders today. Indian market is expected to open slightly positive as Asian markets are trading mixed. US stocks closed slightly positive as Technology companies registered decent gains but other sectors declined. Crude oil has started firming up as many regions have lifted lockdown restriction and demand is expected to go up in near future.
Thakkar suggests BUY call for pharmaceutical major Sun Pharma. Traders can Buy Sun Pharma with a stop loss of Rs 442, target at Rs 470. Many pharmaceutical companies have touched 52-week high during the recent trading sessions. Pharmaceutical sector is considered as a safe sector during panic selling and this time was no different. Investors have been pumping money in pharmaceutical companies, even expecting high sales for drugs after coronavirus pandemic. People would become health conscious and there can a rise in immunity building superfoods and drugs in the future.
For today’s trading session, all the three major market analysts have suggested a SELL call for Coal India. Thakkar suggests Sell for Coal India with a stop loss of Rs 136, target at Rs 127.
Thakkar suggests SELL trade for Godrej Properties with a stop loss of Rs 612, target at Rs 585. For automobile and general finance company M&M Finance, Thakkar has suggested a BUY Call. Muthoot Finance management recently said that they expect higher gold loans in near future as banks are expected to remain low on giving credit. Thakkar suggests Buy CALL for M&M Finance with a stop loss of Rs 164.5, target at Rs 183.
TopNews will review the performance of trading calls by the end of the trading session.