Shrikant Chouhan: BUY LTIMindTree and Hindalco
Market expert Shrikant Chouhan from Kotak Securities has suggested two BUY Calls and no SELL Call for today’s trading session. Indian markets are expected to open flat today but we can witness range-bound trade with positive bias today. NSE Nifty faces tough resistance in 19550-19600 range and we saw markets decline from this level yesterday. Indian stocks are looking expensive and we can witness stock specific action in the coming sessions. Markets are still showing strength but many market participants are also looking forward to a healthy correction. US and European markets closed positive on Thursday.
Chouhan has suggested BUY Call for LTIMindtree at current levels with Stop Loss at Rs 4,800 and price target of Rs 5,000. The stock can even cross Rs 5,050 levels in case the markets remain favorable. The stock has witnessed strong demand after HDFC-HDFC Bank merger led one space free on NSE Nifty and LTIMindTree has been given place on the index.
Chouhan has suggested BUY Call for metal counter Hindalco with a stop loss of Rs 424 and price target of Rs 450. The stock is looking strong on the charts.
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.