Mitessh Thakkar: BUY Axis Bank, Tata Chemical, Glenmark Pharmaceuticals; SELL Dabur
Market expert Mitesh Thakkar has suggested three BUY Calls and one SELL Call for today’s trading session. Indian markets are expected open flat today and markets are looking for strong global cues for future direction. The markets are expected to trade in a narrow range with buying coming at lower levels while selling noticed at day’s highs. US markets closed strong on Monday and we could see European markets trading firm today as well.
Thakkar has suggested BUY Call for private banking major Axis Bank as the stock is looking strong on the charts. Traders can BUY Axis Bank at current price with Stop Loss below Rs 970 for an upside target price of Rs 1,015. Thakkar has suggested BUY Call for Glenmark Pharmaceuticals at current levels with a stop loss at Rs 757 for target price Rs 790. The stock could see a positive breakout and offer good returns in short term.
Thakkar has suggested BUY Call for Tata Chemicals at current price for target of Rs 1080 with Stop Loss at Rs 1015. This Call could take a few sessions but the trend in this counter is positive.
Thakkar has suggested SELL Trade for FMCG counter Dabur at current price for target of Rs 540 with Stop Loss at Rs 560.
All trades should be conducted with strict Stop Loss. Markets can have unpredicted moves based on news and trends in the global markets. Stop Loss is an important strategy to reduce the risk in case the stock doesn’t move as per the call given by market experts.