Prakash Gaba: BUY NIIT Tech, SBI Life; SELL Hero MotoCorp, Indiabulls Housing
Indian market is expected to open positive on Friday. Dow Jones closed nearly one percent lower after the US economy witnessed the biggest drop in quarterly GDP registered till date. However, Dow Jones recovered from the initial decline and the loss at the end of the session was just less than one percent.
Prakash Gaba has suggested BUY call for insurance services provider SBI Life with a stop loss of Rs 900, target at Rs 930. Gaba has also suggested BUY Call for technology company NIIT Tech with a stop loss of Rs 1,900, target at Rs 1,990.
On the selling front, Gaba has Hero MotoCorp and Indiabulls Housing on his radar for the trading session. Traders can SELL automobile major Hero MotoCorp with a stop loss of Rs 2,775, target at Rs 2,620, as per Gaba. Traders can initiate a SELL trade for Indiabulls Housing with a stop loss of Rs 205, target at Rs 185, as per Gaba.
This trading week has been mixed for Indian markets and we can expect slightly positive closing for today’s session. 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.