Sudarshan Sukhani: BUY Maruti Suzuki, ACC, L&T and Dr Reddy’s
Technical analyst Sudarshan Sukhani has suggested only BUY calls for today’s trading session, indicating a bullish sentiment in the Indian markets. Majority of State governments have announced opening up of economic activity from June 8 and traders are optimistic about economy returning back to normal. India also expects a normal monsoon this year and market experts are optimistic about many sectors.
Sudarshan Sukhani has suggested only BUY Calls and traders can initiate a BUY trade in cement major ACC with a stop loss of Rs 1,270, target at Rs 1,340. From infrastructure sector, Sukhani suggests traders to BUY L&T with a stop loss of Rs 930, target at Rs 990.
Automobile companies started their operations in May and majority of automobile dealerships have opened already. We could see encouraging data for June after almost nil sales during April and May. Traders can Buy Maruti Suzuki with a stop loss of Rs 5,650, target at Rs 5,850 as per Sukhani.
Sukhani has also suggested BUY call for pharmaceutical major Dr Reddy’s. Traders can Buy Dr Reddy's with a stop loss of Rs 3,920, target at Rs 4,120.
Indian markets are expected to remain strong for today’s trading session. As markets across the world have recovered in the recent weeks, Indian market is also expected to perform strong. We could see NSE Nifty breaching 10,300 levels in today’s trade and a close above this level could suggest further strength.