Prakash Gaba: BUY Escorts, Mahindra & Mahindra; SELL Just Dial and Apollo Hospitals
Market analyst Prakash Gaba has suggested two BUY Calls and two SELL calls for traders today. Indian markets are expected to open strong today as global markets have showcased bullish sentiment. Chinese export data for April has been surprisingly strong against market expectations of decline in exports. Investors believe that with rising exports, China could recover at a much faster pace than earlier anticipated. US dollar declined in yesterday’s trade while Gold prices jumped by nearly 2 percent.
Gaba has suggested BUY for automobile major Escorts with a stop loss of Rs 740, target at Rs 765. Another stock on Gaba’s buy list for the day is automobile major M&M. Gaba suggests traders to initiate a Buy trade in Mahindra & Mahindra with a stop loss of Rs 390, target at Rs 415.
On Gaba’s selling list for the day are Apollo Hospitals and Just Dial. Traders can Sell Apollo Hospitals with a stop loss of Rs 1,300, target at Rs 1,200 as per Prakash Gaba.
Traders can Sell Just Dial with a stop loss of Rs 346, target at Rs 320, Gaba suggests. Indian markets are expected to be in a trading zone today with an upward bias. As the global market sentiment has improved, we can expect stocks to remain strong.
Coronavirus impact has been declining in the last few days globally. Many regions across the world have relaxed lockdowns and people are returning back to work. Small businesses are operating and market experts are expecting a V-shaped recovery in the economic activity. The real impact of lockdowns on the economy is yet to be ascertained but we might see a quicker recovery.