Shrikant Chouhan: BUY Deepak Nitrite, HCL Technologies
Market expert Shrikant Chouhan from Kotak Securities has suggested two BUY Calls and one SELL Call for short term investors and traders. Indian markets are expected to open strong as global cues are positive. Indian markets have been closely following the global markets. US markets are now looking forward to US Federal Reserve halting rate hikes and probably cutting interest rates by the end of the year. Markets are looking positive for the moment and bad news has been largely factored in. However, the imminent recession could be a major change for worldwide markets and that hasn’t been factored in at the moment.
Chouhan has suggested BUY Call for Deepak Nitrite at current price for target of Rs 1950 – 2000 with a Stop Loss at Rs 1800. The stock is looking strong on the charts and with markets trading firm, short term traders can expect decent returns on this counter.
Chouhan has suggested BUY Call for technology major HCL Technologies at current price for target of Rs 1150. The Stop Loss for HCL Technologies has been suggested at Rs 1060. The stock has potential to offer quick returns.
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.