Market expert Rajesh Palviya from Axis Securities has suggested three BUY Calls for short term traders. Indian markets are expected to open lower today and we can witness selling pressure in select stocks. The current market rally has lost steam over the last couple of sessions and there are growing voices, expecting a correction in stocks. Indian markets have outperformed the emerging markets but that is largely due to strongly positive outlook for Indian economy. Last month, there was strong inflows from FIIs in Indian stocks. Currently, NSE Nifty and BSE Sensex are hovering around their all-time highs.

Palviya has suggested BUY Call for automobile major Hero MotoCorp at current levels for target price of Rs 3,050 with Stop Loss at Rs 2,960. Palviya expect Hero MotoCorp to even touch Rs 3,080 in case markets remain favorable. The company launched Harley-Davidson X440 bike in India this week. Palviya has suggested BUY Call for FMCG major ITC at current price for target of Rs 485 with Stop Loss at Rs 458.

Palviya has suggested BUY Call for pharmaceutical major Sun Pharma at current levels for target of Rs 1090 – 1100 in short term. Stop Loss for this CALL has been suggested at Rs 1025. The stock is looking strong on the charts.

All trades should be conducted with strict Stop Loss. Markets can have unpredicted moves based on news and trends in the global markets. Stop Loss is an important strategy to reduce the risk in case the stock doesn’t move as per the call given by market experts.