Mitesh Thakkar: BUY Tata Steel, Motherson Sumi, UltraTech Cement; SELL Bajaj Auto
Market analyst Mitesh Thakkar has suggested three BUY Calls and one SELL Call for today’s trading session. Indian markets are expected to open flat and we could see some selling pressure. The markets are looking forward to quarterly results and till the second week of October, there isn’t any major trigger for the markets. US markets closed negative on Tuesday and Asian stocks have been trading mixed this morning.
Thakkar has suggested BUY Call for automobile components maker Motherson Sumi Systems with a stop loss of Rs 113.4, target at Rs 120. Other stock on Thakkar’s list is Tata Steel and traders can initiate a BUY Trade in Tata Steel with a stop loss of Rs 364.9, target at Rs 383.
Thakkar has suggested BUY Call for cement major UltraTech Cement. This stock has also been recommended by technical analyst Sudarshan Sukhani for today’s trade. Traders can BUY UltraTech Cement with a stop loss of Rs 4,000, target at Rs 4,200. The stock is looking strong on the charts.
Thakkar has suggested SELL Call for automobile major Bajaj Auto with a stop loss of Rs 2,935, target at Rs 2,810.
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.