SELL Axis Bank, Bajaj Auto, BalKrishna Industries and Container Corporation: Prakash Gaba
Market analyst Prakash Gaba has suggested SELL calls for Bajaj Auto, BKT, Container Corporation and Axis Bank for daily traders. Indian markets opened positive with nearly 500 points gain on BSE Sensex but within first 20 minutes of trade, markets declined to trade in the negative. Majority of stocks in the index have declined to almost their 52-week lows.
Indian markets are expected to trade sideways for majority of trading session but the closing would depend on trends in the European markets. Dow Jones jumped by nearly 1000 points yesterday after President Donald Trump urged for USD 1 trillion stimulus due to coronavirus.
For banking major Axis Bank, Prakash Gaba has a SELL call. Gaba suggests traders to sell Axis Bank with target of Rs 460 and stop loss at Rs 510.
Bajaj Auto has declined a lot in the recent trading sessions but Gaba still thinks that there if further room for decline. Gaba suggests SELL for Bajaj Auto with target of Rs 2150 and stop loss at Rs 2350.
For tire manufacturer BKT, Prakash Gaba has SELL call again. Gaba suggests SELL for Balkrishna Industries with target of Rs 850 and stop loss at Rs 920. Another SELL Call for Container Corp with target of Rs 310 and stop loss at Rs 358.