Sudarshan Sukhani: BUY UltraTech Cement, M&M Finance; SELL Pidilite and HPCL
Technical analyst Sudarshan Sukhani has suggested two BUY Calls and two SELL Calls for today’s trading session. Indian markets are expected to open negative today as SGX Nifty was trading low. US markets closed low on Wednesday and Dow Jones was down by more than 500 points as investors are worried about slow recovery for world economy. The COVID-19 pandemic has been under control in rest of the world except United States. While oil prices have jumped as demand has been rising, equity investors are concerned about economic recovery after sharp contraction has been reported by many regions across the world.
Sukhani has suggested BUY Call for M&M Finance. Market analyst Ashwani Gujral has also suggested BUY call for M&M Finance. As per Sukhani’s technical levels, traders can Buy M&M Finance with a stop loss of Rs 177, target at Rs 186. Other stock on Sukhani’s BUY list for today’s trade is UltraTech Cement. Traders can buy UltraTech Cement with a stop loss of Rs 3,460, target at Rs 3,660.
Sukhani has suggested two SELL calls for today’s trading session. Traders can initiate a Sell trade in Pidilite Industries with a stop loss of Rs 1,405, target at Rs 1,350. Traders can also Sell HPCL with a stop loss of Rs 197, target at Rs 186.
Please keep strict stop loss for all the trades as markets are highly volatile. TopNews will review trading call performance by the end of the trading session.
Indian government announced strong stimulus package and stocks jumped in yesterday’ trade. Indian markets should stay strong but as the global cues are negative, we could see a low opening but recovery during the afternoon session. If the stocks don’t recover today, we could see a recovery over the next two trading sessions.