Sudarshan Sukhani: Trading Call Performance for Aurobindo Pharma, Coal India, Grasim and Bajaj Auto
Technical analyst Sudarshan Sukhani suggested just one BUY Call and three SELL calls for Thursday’s session. As per expectations, Indian markets opened flat and traded low during early trade. However, during the afternoon session, Indian markets jumped and BSE Sensex closed 700 points higher. Fitch Ratings downgraded outlook for India from stable to negative in its recent review but markets ignored the ratings.
Sukhani suggested Buy call for Aurobindo Pharma with a stop loss of Rs 770, target at Rs 805. Aurobindo Pharma opened at Rs 789 ad touched intraday high of Rs 798 (missing the target price). The stock touched intraday low of Rs 783 and closed flat. This call couldn’t perform as expected but traders could have made small profit on this call.
Sukhani suggested SELL call for Bajaj Auto with a stop loss of Rs 2,740, target at Rs 2,630. Bajaj Auto opened the session at Rs 2689 and touched intraday high of Rs 2697. Bajaj Auto touched intraday low of Rs 2646, almost reaching our target price. This call has been SUCCESSFUL.
Sukhani suggested Sell trade in Coal India with a stop loss of Rs 132, target at Rs 126. Coal India opened at Rs 129 and the stock hit Stop Loss at 11 am. This call has FAILED as Coal India jumped nearly 6.3 percent and closed at Rs 137.65.
Sukhani also suggested SELL call for cement counter Grasim. Traders were suggested to Sell Grasim with a stop loss of Rs 598, target at Rs 565. Grasim opened the session at Rs 583 and touched intraday high of Rs 602. This call also hit Stop Loss at 12.05 pm. This call has FAILED as Grasim closed at Rs 599 after touching intraday high of Rs 602.85.