Mitessh Thakkar: BUY Hindalco, NALCO and Aurobindo Pharma; SELL Britannia Industries
Market analyst Mitesh Thakkar has suggested three BUY Calls and one SELL Call for short term traders. Indian markets are expected to open positive today but we can witness selling pressure at higher levels. Markets have been moving in one direction only and a correction could happen any time. US markets closed near yearly highs on Tuesday and the mood is bullish in the global markets. Some market players have turned cautious with high valuation of stocks.
Thakkar has suggested BUY Call for pharmaceutical counter Aurobindo Pharma at current levels for a target of Rs 780 with a stop loss at Rs 740. The stock has given a positive breakout and has been trading firm after it touched 52-week few months ago. The stock can offer good returns over short term.
Thakkar has suggested BUY Call for metal counter Hindalco at current price for a target price of Rs 458 with Stop Loss at Rs 439. The stock is looking strong on the charts. Thakkar has suggested BUY Call for PSU counter NALCO for a target of Rs 97 with a stop loss at Rs 91.
Thakkar has suggested SELL Trade for FMCG major Britannia Industries at current price for a target of Rs 4,900 with a stop loss at Rs 5,100. The stock is looking weak on the charts.
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.