Prakash Gaba: BUY Tata Consumer; SELL Indian Oil
Market analyst Prakash Gaba has suggested one BUY Call and one SELL Call for today’s trading session. Indian markets are expected to witness a gap-down opening today as US markets closed sharply negative on Wednesday. US markets are concerned about Federal Reserve raising interest rates and high inflation in North American and European markets. Asian stocks were trading lower this morning.
Gaba has suggested BUY Call for FMCG major Tata Consumer for a target of Rs 780 with a stop loss at Rs 740. The stock is looking strong on the charts and we could see Tata Consumer gaining ground once the negative sentiment in the markets settles. The stock has witnessed a correction during last week and we could see positive movement in the coming days.
Gaba has suggested SELL Trade for PSU oil major Indian Oil Corporation for a target of Rs 110 with a stop loss at Rs 120.
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.