Shrikant Chouhan from Kotak Securities: BUY HCL Technologies; SELL Bajaj Finance
Market expert Shrikant Chouhan from Kotak Securities has suggested one BUY Call and one SELL Call for short term investors and traders. Indian markets are expected to open flat today but we can also witness selling pressure in the markets. US markets closed positive on Thursday but European stocks were trading low as Bank of England raised interest rates by 50 basis points. Indian markets declined during the afternoon trade yesterday and the session was volatile.
Chouhan has suggested BUY Call for technology major HCL Technologies at current price for a target of Rs 1,210 to 1,220. The Stop Loss for this trade has been suggested at Rs 1,140. The stock has given a strong breakout in the recent times and we can expect further strength in this counter if market remains positive. In case markets fall, HCL Tech could also see a decline.
Chouhan has suggested SELL Trade for financial services major Bajaj Finance at current price for a target of Rs 6,700 with a stop loss at Rs 7,100. The stock is looking weak on the charts. Bajaj Finance could see further decline in coming sessions.
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.