Mitessh Thakkar: BUY IGL, Colgate-Palmolive; SELL Maruti Suzuki and ONGC
Market analyst Mitesh Thakkar has suggested two BUY Calls and two SELL Calls for today’s trading session. Indian markets are expected to open positive today but we could also witness selling pressure at higher levels. On Friday, markets registered a strong move and selling was seen at higher levels that led markets to close negative. US markets closed positive on Friday and this could boost the sentiment in the Indian markets today.
Thakkar has suggested BUY Call for FMCG counter Colgate-Palmolive for a target of Rs 1,630 with a stop at Rs 1,590. Traders can initiate a BUY Trade for IGL for a target of Rs 385 with a stop at Rs 366.
Thakkar has suggested SELL Call for ONGC for a target of Rs 145 with a stop loss at Rs 156. Traders can SELL automobile major Maruti Suzuki for a target of Rs 6,950 with a stop loss at Rs 7,220, as per Thakkar. The stock is looking weak on the charts.
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.