Shrikant Chouhan: BUY HCL Technologies; SELL ITC
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 but we could see a highly volatile session. US and European markets closed slightly positive on Tuesday after witnessing selling in the recent sessions. Indian markets could see selling at higher levels but for a sustained rally, NSE Nifty should cross major resistance levels of 16350 and 16500.
Chouhan has suggested BUY Call for technology major HCL Technologies for a target of Rs 1,130-1,150 with a stop loss at Rs 1,050. The stock is looking strong on the charts and with recent selling in technology stocks, this counter looks good for short term bounce-back.
Chouhan has suggested SELL Call for FMCG major ITC for a target of Rs 250-247 with a stop loss at Rs 265.
All trades should be carried out with strict Stop Loss. In case the trade doesn’t happen as per expectations, it is good to exit the trade if the call is in profit. TopNews will review performance of trading calls by the end of the trading session.