Sudarshan Sukhani: SELL Hindalco, Manappuram, Tata Power; BUY Crompton Greaves
Technical Analyst Sudarshan Sukhani has suggested one BUY Call and three SELL Calls for today’s trading session. The sentiment in global markets is bearish and high inflation numbers are keeping investing community pessimistic about global economy. Indian markets are expected to open lower today and we could see selling pressure across the board. The global markets are still sending negative signals and we could see further downside in the markets. NSE Nifty is below its major support levels and further selling can be expected. However, some market experts also believe that we could see recovery from lower levels.
Sukhani has suggested BUY Call for Crompton Greaves with a stop loss at Rs 391. The stock is looking strong on the charts. However, markets are expected to trade low today and traders can BUY this counter on declines. Sukhani doesn’t offer target price for stocks. Traders can decide their own target price depending on their risk appetite.
Sukhani has suggested SELL Call for metal counter Hindalco with a stop loss at Rs 380. Traders can initiate a SELL Trade for gold finance major Manappuram with a stop loss at Rs 96.
Sukhani has suggested SELL Call for Tata Power with a stop loss at Rs 221.
All trades should be carried out with strict Stop Loss. In case the trade doesn’t happen as per expectations, it is good to exit the trade if the call is in profit. TopNews will review performance of trading calls by the end of the trading session.