Sudarshan Sukhani: BUY Hero MotoCorp, Asian Paints and Aurobindo Pharma; SELL Jubilant FoodWorks
Technical analyst Sudarshan Sukhani has suggested three BUY Calls and one SELL Call for today’s trade. Indian markets are expected to open positive today but we can expect selling pressure at higher levels. Indian markets are currently at their all-time highs and we can expect stock specific action in the markets this week. Many companies will be announcing quarterly results and stock performance would depend on the numbers. US markets closed positive last week and European stocks Futures were trading positive this morning.
Sukhani has suggested BUY Call for Asian Paints at current price with Stop Loss at Rs 3385. Sukhani doesn’t offer price target and traders can decide their own target depending on risk appetite. Asian Paints is looking strong on the charts and if markets remain positive, we can expect good returns from this counter. Sukhani has suggested BUY Call for pharmaceutical major Aurobindo Pharma at current price with Stop Loss at Rs 720. The stock has given a positive breakout in the recent times and could see further strength.
Sukhani has suggested BUY Call for two-wheeler major Hero MotoCorp at current levels with Stop Loss at Rs 3,040. The stock is fundamentally strong and can be added to portfolio on declines.
Sukhani has suggested intraday SELL Call for Jubilant FoodWorks with Stop Loss at Rs 478. The stock is looking weak on technical charts and we can expect decline in today’s session.
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.