Shrikant Chouhan: BUY M&M Finance and Hindalco
Shrikant Chouhan, VP-Technical Research at Kotak Securities has suggested two BUY Calls for traders. Indian markets witnessed a decent recovery on Friday after five trading sessions of decline. Markets are expected to open flat today and we can expect markets to remain range-bound.
Chouhan has suggested BUY Trade for metals counter Hindalco Industries with a stop loss of Rs 325, target at Rs 360. Traders can BUY M&M Finance with a stop loss of Rs 207, target at Rs 230, as per Chouhan.
Due to absence of any major triggers, markets could remain range-bound this week. Traders and markets analysts were expecting correction but it has been a minor correction. If NSE Nifty declines 10 percent from current levels, we can see buying in many counters as the medium and long term investors pick up value buys.
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.