Mitessh Thakkar: BUY PNB, Manappuram, Container Corporation; SELL Nestle
Market expert Mitesh Thakkar has suggested three BUY Calls and one SELL Call for today’s trading session. Indian markets are expected to open flat today and we could witness selling pressure in today’s trade. US and European stocks closed negative on Tuesday. The markets are looking for fresh triggers and current mood is bearish. We could see selling in select counters in today’s trade. The overall trend for Indian markets remains positive but short term trend is negative.
Thakkar has suggested BUY Call for gold loan major Manappuram at current levels for a target of Rs 156 with a stop loss at Rs 139. Thakkar has suggested BUY Trade for PSU banking major PNB at current levels for a target of Rs 66 with a stop loss at Rs 60. The stock is looking strong on the charts and has given a positive breakout.
Thakkar has suggested BUY Call for CONCOR at current price for a target of Rs 735 with a stop loss at Rs 700.
Thakkar has suggested SELL Call for FMCG major Nestle India for a target of Rs 21,700 with a stop loss at Rs 22,500. The stock can see further decline.
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.