Mitessh Thakkar: SELL ITC, Berger Paints, Chambal Fertilizers; BUY Kotak Mahindra Bank
Market analyst Mitesh Thakkar has suggested three SELL Calls and one BUY Call for today’s trading session. Indian markets are expected to open lower today as US markets touched 52-week low in yesterday’s trade. European and Asian markets have also given negative signals and Indian markets are looking weak right now. We can expect a gap-down opening today but there can be value buying in select counters at lower levels.
Thakkar has suggested SELL Call for Berger Paints for a target of Rs 644 with a stop loss at Rs 671. Traders can initiate a SELL Trade for Chambal Fertilisers & Chemicals for a target of Rs 395 with a stop loss at Rs 414, as per Thakkar.
Thakkar has suggested SELL Call for FMCG major ITC for a target of Rs 245 with a stop loss at Rs 260. The stock is looking weak on the charts and with overall market weakness, we can see ITC going down in today’s trade.
Thakkar has suggested BUY Call for private banking major Kotak Mahindra Bank for a target of Rs 1,850 with a stop loss at Rs 1,800.
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.