Shrikant Chouhan: BUY Cipla; SELL Apollo Tyres
Market expert Shrikant Chouhan from Kotak Securities has suggested one BUY Call and one SELL Call for today’s trading session. Indian markets are expected to open flat today and we can witness a range-bound session. US markets closed negative on Thursday while European stocks were slightly positive. Indian markets will also face stock specific action as some companies will be announcing quarterly numbers. The session close would depend on trends in the US Futures market.
Chouhan has suggested BUY Call for pharmaceutical major Cipla at current levels for a target of Rs 1,230-1,250 with a stop loss at Rs 1,113. Cipla has seen a positive breakout in the recent sessions. The company reported strong quarterly results and markets have rewarded the stock. Cipla could continue to outperform in short and medium term.
Chouhan has suggested SELL Call for Apollo Tyres at current price for a target of Rs 400 with a stop loss at Rs 428. The stock is looking weak on the charts and could face decline if markets turn bearish.
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.