Mitessh Thakkar: BUY Federal Bank, GNFC; SELL M&M and Asian Paints
Market analyst Mitesh Thakkar has suggested US markets closed negative on Friday and global market trend is once again bearish. Indian markets are expected to open lower today and we can witness selling pressure in today’s session. There can be a recovery from lower levels towards the end of the trading session, mostly depending on European and US futures.
Thakkar has suggested BUY Call for GNFC for a target of Rs 735 with a stop loss at Rs 675. The stock is looking strong on the charts. Thakkar has suggested BUY Trade for banking counter Federal Bank for a target of Rs 134 with a stop loss at Rs 125.
Thakkar has suggested SELL Call for automobile major M&M for a target of Rs 1,190 with a stop loss at Rs 1,251. Traders can initiate a SELL Trade for Asian Paints for a target of Rs 3,140 with a stop loss at Rs 3,206, 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.