Mitessh Thakkar: BUY Tata Chemicals, Jindal Steel; SELL ABB India and Astral
Market analyst Mitesh Thakkar has suggested two BUY Calls and two SELL Call for today’s trading session. Indian markets opened negative today as we witnessed a sharp decline in NSE Nifty during the first hour of trade. Nifty has recovered but market sentiment for the day seems bearish. European stocks could open lower and US Futures is indicating a decline in the US markets.
Thakkar has suggested BUY Call for steel major Jindal Steel at current levels for a target of Rs 605 with a stop loss at Rs 573. The stock is looking strong on the charts and can give positive breakout. Thakkar has suggested BUY Trade for Tata Chemicals at current price for a target of Rs 1,040 with a stop loss at Rs 990.
Thakkar has suggested SELL Call for engineering major ABB India at current price for a target of Rs 4,170 with a stop loss at Rs 4,320. Thakkar has suggested SELL Call for Astral at current price for a target of Rs 1,875 with a stop loss at Rs 1,980. The stock is looking weak on technical charts.
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.