Sudarshan Sukhani: SELL Voltas, Shriram Transport, Havells and BUY TCS
Technical analyst Sudarshan Sukhani has suggested just one BUY call and three SELL calls for the trading session indicating a weak outlook for today’s trade. Indian markets jumped yesterday after facing two days of low trade. US markets closed negative on Tuesday and Asian markets have been giving mixed signals. The economic package announced by Indian government came out much lower than initial claim of Rs 20 lakh crore and investors are concerned about recovery time for the Indian economy.
Sukhani has suggested BUY call for technology major TCS with a stop loss of Rs 1,920, target at Rs 1,990. Technology companies have managed to remain strong during the COVID-19 panic selling. These stocks have recovered from their lows and some technology companies are even higher compared to pre-COVID levels. Many technology companies are announcing quarterly results with minimal impact due to COVID-19 lockdowns.
On Sukhani’s list of stocks for SELL trade today are Voltas, Shriram Transport and Havells. Traders can Sell Voltas with a stop loss of Rs 448, target at Rs 425. Sukhani has also suggested SELL trade for Shriram Transport with a stop loss of Rs 620, target at Rs 550. Traders can also Sell Havells with a stop loss of Rs 480, target at Rs 455.
Indian markets are expected to trade in a narrow range for the session. We might see selling at higher levels. Keep a strict stop loss for all the trades. TopNews will review performance of trading calls at the end of the trading session.