Sudarshan Sukhani: SELL Apollo Tyres, Bharat Forge and BUY Marico and Glenmark Pharma
Technical analyst Sudarshan Sukhani has two stocks on his selling list and two on his buying list for the traders today. Indian markets are expected to open low and we could see trade in the negative territory as majority of Asian markets are trading negative. The impact of coronavirus on economy is still not clear and the highest ever recorded jobless claims in the United States have spooked investors worldwide. We might need more stimulus packages from governments across the world to help economies deal with this unprecedented situation.
Majority of companies will report the impact of coronavirus in their second quarter results. For the quarter ending March 2020, we could see very little impact on earnings as coronavirus epidemic starting impacting worldwide during the second half of March 2020.
Technical analyst Sudarshan Sukhani has suggested SELL call for Bharat Forge with a stop loss of Rs 243, target at Rs 225 for traders. Please keep a strict stop loss as markets are very volatile and not having a stop loss can lead to significant losses.
Other stock on Sukhani’s selling list is Apollo Tyres. Traders can SELL Apollo Tyres with a stop loss of Rs 82, target at Rs 75.5.
Sukhani suggests traders to BUY Glenmark Pharma with a stop loss of Rs 199, target at Rs 215. FMCG counter Marico can be bought with a stop loss of Rs 268, target at Rs 285.