Sacchitanand Uttekar: BUY ICICI Bank and Indraprastha Gas
Sacchitanand Uttekar of Tradebulls has suggested two BUY Calls and no SELL Call for today’s trading session. Indian markets are expected to open flat today but trade is expected to remain range-bound. US markets closed negative for third session on Wednesday. The European markets declined on Wednesday after inflation came higher than expected in the UK. Indian markets could touch another all-time high for indices but a correction can also happen in stocks. Many market participants are getting uncomfortable with higher valuations.
Uttekar has suggested BUY Call for private banking major ICICI Bank for a target of Rs 952 with a stop loss at Rs 926. The stock is looking strong on the charts. Banking stocks have been in focus during the last few trading sessions.
Uttekar has suggested BUY Call for energy counter Indraprastha Gas at current price for intraday target of Rs 505 with a stop loss at Rs 485. The stock can also reach target of Rs 520 on the higher side, in case market conditions remain favorable.
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.