Mitessh Thakkar: BUY REC; SELL CoForge, Tata Consumer and BHEL
Market analyst Mitesh Thakkar has suggested one BUY Call and three SELL Calls for today’s trading session. Indian markets could witness a gap-down opening today and we can expect the trading session to remain negative. Global cues have turned negative once again and US markets are trading near their 52-week lows. Markets are concerned about inflation and high prices of commodities. We could be staring at a recession while some market experts believe that we are already in a recession. Indian markets could see declines next week as well.
Thakkar has suggested BUY Call for PSU energy counter REC for a target of Rs 130 with a stop loss at Rs 120. The stock is looking strong on the charts.
Thakkar has suggested SELL Call for Tata Consumer Products for a target of Rs 670 with a stop loss at Rs 715. Traders can initiate a SELL Trade for Coforge for a target of Rs 3,400 with a stop loss at Rs 3,600, as per Thakkar.
Thakkar has suggested SELL Call for Bharat Heavy Electricals Ltd for a target of Rs 42.5 with a stop loss at Rs 46.
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.