Prakash Gaba: BUY Bajaj Finance, ITC, HDFC Bank and Reliance Industries
Market expert Prakash Gaba has suggested four BUY Calls for today’s trading session. Indian markets have completely ignored the downgrade from ‘Stable’ to ‘Negative’ by Fitch Ratings. Stock markets are expected to trade in a range today and we could see selling pressure at higher levels. Finance Minister Nirmala Sitharaman addressed a press conference and provided details on the Rs 50,000 crore PM Garib Kalyan Rojgar Abhiyaan. The scheme will be launched on June 20 and aims to provide livelihood options to poor people and migrant labor that has returned back to their home towns due to COVID-19 lockdowns.
Gaba has suggested only BUY Calls for today’s trade. Traders can Buy Bajaj Finance with a stop loss of Rs 2,450, target at Rs 2,600 as per Gaba. Market expert Ashwani Gujral has also suggested BUY Call for Bajaj Finance today.
Other stock on Gaba’s list for the day is HDFC Bank (also recommended by Ashwani Gujral today). Traders can Buy HDFC Bank with a stop loss of Rs 1,000, target at Rs 1,080.
Reliance has become favorite stock of market players over last two months. The company announced another investment in its Jio Platforms from Saudi Arabia yesterday. Traders can Buy RIL with a stop loss of Rs 1,640, target at Rs 1,700 as per Gaba.
Gaba has also suggested Buy call for cigarettes and FMCG major ITC with a stop loss of Rs 183, target at Rs 195. Traders should keep strict Stop Loss for all trades.