Mitessh Thakkar: BUY TCS, Info Edge; SELL Ambuja Cements and Balrampur Chini
Technical analyst Mitesh Thakkar has suggested two BUY Calls and two SELL Call for today’s trade, indicating a neutral outlook for Indian stocks. Indian markets are expected to open flat today as the market rally has lost steam this week. Markets have witnessed strong performance over the last few weeks and many market participants are concerned about high valuations. Market participants are waiting for a correction in markets and that hasn’t happened for the past few weeks. The trend in global markets is still positive and we can expect another all-time high for indices in today’s trading session.
Thakkar has suggested BUY Call for Info Edge at current levels with Stop Loss at Rs 4,590 and price target of Rs 4,700. The stock is looking strong on the charts. Thakkar has suggested BUY Call for technology major TCS after the company reported quarterly numbers in line with market expectations. Thakkar has suggested BUY Call for TCS at current price with Stop Loss at Rs 3,315 and price target of Rs 3,400.
Thakkar has suggested SELL Trade for Balrampur Chini with a stop loss of Rs 381 and price target of Rs 360. Traders can SELL Ambuja Cements at current price with a stop loss at Rs 421 and price target of Rs 400. The stock is looking weak on the 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.