Shrikant Chouhan: BUY Vedanta; SELL UltraTech Cement
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 remain volatile today but the global cues will direct the markets for the near future. The assembly election results were in favor of ruling BJP except for AAP victory in Punjab. Global markets are facing high volatility due to inflation issues, US Fed policy decisions and Ukraine-Russia war. Indian markets have been trading firm for the last two trading sessions and we could see a decline in today’s trade.
Chouhan has suggested BUY Call for metal couter Vedanta for a target of Rs 400-405 with a stop loss at Rs 370. The stock is looking strong on the charts.
Chouhan has suggested SELL CALL for Sell UltraTech Cement for a target of Rs 5,900 with a stop loss at Rs 6,100. The stock could see decline as technical charts suggest weakness in the counter.
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.