Mitessh Thakkar: BUY Reliance, Coromandel, Bosch; SELL Ambuja Cements
Technical analyst Mitesh Thakkar has suggested three BUY Calls and no SELL Call for today’s trade, indicating a bullish outlook for Indian stocks. Indian markets are expected to open lower today as global market sentiment has turned negative. US markets closed negative on Thursday after facing selling pressure but there was slight recovery towards the end of the session. European stocks closed lower on Thursday. Indian markets can witness selling pressure today as Asian markets are also trading with decline this morning.
Thakkar has suggested BUY Call for Reliance Industries at current levels with Stop Loss at Rs 2620 and target price of Rs 2690. The stock is looking strong on technical charts and can offer decent returns if markets remain positive. Reliance has been firm during the last couple of trading sessions.
Thakkar has suggested BUY Call for Coromandel at current levels for target price of Rs 1010 with Stop Loss at Rs 960. Thakkar has suggested BUY Call for Bosch at current price for target of Rs 20,150 with Stop Loss at Rs 19,200.
Thakkar has suggested SELL Trade for Ambuja Cements at current price for target price of Rs 405 with Stop Loss at Rs 435.
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.