SELL Axis Bank, Ashok Leyland, BUY Hindustan Unilever and Voltas: Mitesh Thakkar
Market analyst Mitesh Thakkar has given BUY calls for Hindustan Unilever and Voltas. However, he has suggested SELL for Ashok Leyland and Axis Bank.
Mitesh Thakkar of miteshthakkar.com has contrary call for Ashok Leyland which has been suggested as BUY for today’s trade by Ashwani Gujral and Sudarshan Sukhani.
SELL Calls by Mitesh Thakkar..
Sell Axis Bank around Rs 688 - 690 with a stop loss of Rs 705 for target of Rs 660
Sell Ashok Leyland with a stop loss of Rs 76 for target of Rs 70
BUY Calls by Mitesh Thakkar..
Buy Voltas with a stop loss of Rs 646 for target of Rs 695
Buy Hindustan Unilever with stop loss of Rs 2150 for target of Rs 2200
Indian markets have been stable in today’s trading session after witnessing high volatility yesterday. US markets closed strong on Monday and Indian markets should also witness some strength in the coming trading sessions.
The market witnessed a sharp sell-off from higher levels after a first-half rally which was on the back of pullback rally in Dow future. The pullback was weak towards 11400 and news of new Coronavirus cases in India led this sharp fall while the global markets were trading into the green.
Technically, Nifty bounced back from major support zone of 11200-11100 but failed to sustain at higher levels while Nifty manages to hold 11100 on a closing basis. Tomorrow would be important day post today's panic sell-off because generally market tries to bounce back after a panic sell-off where FIIs net long position in F&O market at historic low which may cause a short-covering rally but there is a need for smart pullback in global market otherwise psychological level of 11000 is under threat where 10700 would be the next important support level. In the upside 11450/11700 are important resistance levels.