Sudarshan Sukhani: BUY Tata Motors, Godrej Consumer Products; SELL Gujarat Gas and Bandhan Bank
Technical analyst Sudarshan Sukhani has suggested two BUY Calls and two SELL Calls for today’s trading session. Indian markets could see positive close today as US Federal Reserve paused rate hikes in its latest policy meeting. US markets have firmed up in the recent weeks and this positive sentiment has been seen in other markets as well. Indian markets could see a short correction but overall trend in the markets is positive. The quarterly performance from majority of local companies has been positive and we can expect further strength in specific counters. Overall trend is positive but we could see small technical corrections.
Sukhani has suggested BUY Call for automobile major Tata Motors at current price keeping a Stop Loss at Rs 555. Sukhani doesn’t offer price target for stocks. Traders can decide their own target price based on their risk profile. Tata Motors has gained in the recent trading sessions and we can expect momentum to continue if broader markets remain positive. Sukhani has suggested BUY Call for FMCG major Godrej Consumer Products at current levels for short term. The stock is looking strong on the charts and has witnessed strength over the last few sessions. Short term investors can get decent returns in Godrej Consumer Products.
Sukhani has suggested SELL Call for Gujarat Gas at current price with Stop Loss at Rs 490. The stock is looking weak on the charts.
Sukhani has suggested intraday SELL Call for private banking counter Bandhan Bank at current price keeping Stop Loss at Rs 262. We could see further weakness in this counter, 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.