Shrikant Chouhan: BUY Mahindra & Mahindra; SELL IndusInd Bank
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 lower today as US markets closed negative on Thursday. US and European markets are again showing signs of weakness and markets are near their 52-week lows. Markets worldwide are concerned about high inflation and rising interest rates. Indian markets could see NSE Nifty touching major support levels in today’s trade.
Chouhan has suggested BUY Call for automobile major Mahindra and Mahindra (M&M) for a target of Rs 1,170-1,180 with a stop loss at Rs 1,070. The stock is looking strong on the charts. Traders should keep this as a positional call and markets might need a few days to settle.
Chouhan has suggested SELL Call for private banking major IndusInd Bank for a target of Rs 740-750 with a stop loss at Rs 810.
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.