Sudarshan Sukhani: BUY Aurobindo Pharma; SELL Coal India, Grasim, Bajaj Auto
Technical analyst Sudarshan Sukhani has suggested just one BUY Call and three SELL calls for today’s session, suggesting a bearish view about stock markets today. Indian markets are expected to open slightly lower today and we could see range-bound trading session. US markets ended slightly lower on Wednesday and Asian markets have been trading mixed.
Sukhani has suggested only one BUY call from pharmaceutical sector for today’s trade. Traders can Buy Aurobindo Pharma with a stop loss of Rs 770, target at Rs 805. Pharmaceutical companies have been in focus since the COVID-19 epidemic as sales of medications are expected to go higher. Many pharmaceutical counters have touched their 52-week highs in the recent trading sessions.
Sukhani has suggested SELL call for Bajaj Auto which looks weak on the technical charts. Traders can Sell Bajaj Auto with a stop loss of Rs 2,740, target at Rs 2,630.
Other stock on Sukhani’s selling list for the day is Coal India. Traders can initiate a Sell trade in Coal India with a stop loss of Rs 132, target at Rs 126.
Sukhani has also suggested SELL call for cement counter Grasim. Traders can Sell Grasim with a stop loss of Rs 598, target at Rs 565. India Cements jumped yesterday after news came that Radhakishan Damani could buy controlling stake in the company. However, India Cements management declined any such possibility in a statement issued later.
Indian markets are expected to trade slightly low today. Traders should keep strict Stop Loss for all the trades.