Sudarshan Sukhani: BUY HCL Technologies, Kotak Mahindra Bank; SELL Aarti Industries and Chambal Fertilizers
Technical analyst Sudarshan Sukhani has suggested two BUY Calls and two SELL Calls for today’s trade. Indian markets are expected to open lower today as we have witnessed strong rally in the recent days. Market participants are anticipating a correction in the markets as some stock valuations are looking overstretched at the moment. We can see selling in the markets today but closing would largely depend on trends in European markets and US Futures.
Sukhani has suggested BUY Call for technology major HCL Technologies at current levels with Stop Loss at Rs 1,175. Sukhani has not suggested target price and traders can select their own target price depending on risk appetite. HCL Technologies is looking strong on the charts. Sukhani has suggested BUY Call for private banking major Kotak Mahindra Bank at current price with Stop Loss at Rs 1,820. Despite rally in markets, Kotak Mahindra Bank has remained under pressure in the recent weeks.
Sukhani has suggested SELL Trade for Aarti Industries at current levels with Stop Loss at Rs 505. Sukhani has suggested SELL Call for Chambal Fertilisers & Chemicals with Stop Loss at Rs 276.
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.