Mitessh Thakkar: BUY Indian Oil and PVR; SELL Dalmia Bharat, UPL
Technical analyst Mitesh Thakkar has suggested two BUY Calls and two SELL Call for today’s trade, indicating a neutral outlook for Indian stocks. Indian markets are expected to open flat today and we can witness a volatile session. Friday marked first day of correction in almost two weeks for Indian markets. We can witness buying at lower levels but overall trend in the markets will depend on European and US Futures.
Thakkar has suggested BUY Call for energy PSU Indian Oil at current levels with Stop Loss at Rs 96 and price target of Rs 105. Thakkar has suggested BUY Call for PVR at current levels with Stop Loss at Rs 1,410 and target price of Rs 1,490. The stock is looking strong on the charts.
Thakkar has suggested SELL Call for Dalmia Bharat at current price with a stop loss at Rs 2,185 and price target of Rs 2,070. The stock can witness selling as technical charts suggest weakness. Thakkar has suggested SELL Trade for UPL with a stop loss at Rs 673 and price target of Rs 640.
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.