Shrikant Chouhan: BUY HDFC AMC; SELL ONGC
Market expert Shrikant Chouhan from Kotak Securities has suggested one BUY Call and one SELL Call for short term traders. Indian markets are expected to open lower today and we can expect selling pressure in majority of index stocks. The global trends have turned negative and we witnessed a strong selling in the US and European markets yesterday. While Nasdaq and Dow Jones recovered from the lows of the day, the sentiment is still negative.
Chouhan has suggested BUY Call for HDFC AMC with a stop loss of Rs 2,880, target at Rs 3,050. The stock is looking strong on the charts. If the market sentiment improves, we can see the target price soon.
Chouhan has suggested SELL Call for PSU energy major ONGC with a stop loss of Rs 122, target at Rs 115. Traders can expect decline in ONGC valuation as the stock is looking weak on the charts.
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.