Sudarshan Sukhani: BUY Pidilite, ICICI Bank; SELL Muthoot Finance and UltraTech Cement
Technical analyst Sudarshan Sukhani has suggested two BUY Calls and two SELL Calls for today’s trading session. Indian markets are expected to open weak today as the global equity sell-off from last week has led to a major decline in trader confidence. The US and European markets witnessed strong decline last week and Indian markets are expected to remain weak unless there is a revival in the global markets.
Sukhani has suggested BUY Call for private banking major ICICI Bank at current market price with a stop loss at Rs 790. Traders can initiate a BUY trade for Pidilite Industries at current price with a stop loss at Rs 2,650, as per Sukhani.
Sukhani has suggested SELL Trade for cement major UltraTech Cement with a stop loss at Rs 7,410. Traders can initiate a SELL trade for gold finance company Muthoot Finance with a stop loss at Rs 1,470, as per Sukhani.
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.