Mitessh Thakkar: BUY SAIL and Hindalco
Technical analyst Mitesh Thakkar has suggested two BUY Calls and no SELL Call for today’s trade, indicating a positive outlook for Indian stocks. Indian markets are expected to open strong today and we can expect NSE Nifty to touch another lifetime high in today’s session. Indian markets will be supported by strength in the US and European markets. Inflation data for US came better than expectations and Nasdaq closed firm on Wednesday. The global sentiment has turned positive again and the next major event will be US Federal policy announcement this month. TCS reported positive results and the stock is expected to open firm today.
Thakkar has suggested BUY Call for metal counter Hindalco at current levels with Stop Loss at Rs 429 and price target of Rs 450. The stock is looking strong on the charts and has given positive breakout. Indian markets are trading firm and this will help metal counters.
Thakkar has suggested BUY Trade for PSU steel major SAIL at current levels with Stop Loss at Rs 89 and price target of Rs 94.
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.