Shrikant Chouhan: BUY ONGC, Cummins India; SELL ITC

Shrikant Chouhan: BUY ONGC, Cummins India; SELL ITC

Market expert Shrikant Chouhan from Kotak Securities has suggested two BUY Calls and one SELL Call for today’s trading session. Indian markets are expected to open positive today but we can expect selling pressure at higher levels. US markets closed flat but Nasdaq closed with decline. Asian markets have been trading mixed this morning. Traders can expect NSE Nifty to gain during the early session but selling pressure can be witnessed at higher levels and can be used as an opportunity to sell.

Chouhan has suggested BUY Call for Cummins India with a stop loss of Rs 830, target at Rs 875. Among PSU energy majors, ONGC is on buying list of Chouhan. Traders can initiate a BUY Trade for ONGC with a stop loss of Rs 107, target at Rs 115, as per Chouhan.

Chouhan has suggested SELL trade for FMCG major ITC with a stop loss of Rs 202, target at Rs 193. 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.

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