Sudarshan Sukhani: Trading Calls Performance for Adani Ports, Britannia, SELL IGL and NIIT Technologies
Technical analyst Sudarshan Sukhani suggested two BUY Calls and two SELL calls for Monday’s trading session. Indian markets ended slightly positive on Monday with BSE Sensex gaining 180 points (0.5 percent) but we are near NSE Nifty’s major resistance level of 10,350. If markets cross this level, we could see further strength in Indian stocks.
Sukhani suggested BUY call for Adani Ports with a stop loss of Rs 338, target at Rs 362. Adani Ports opened at Rs 350 and touched intraday high of Rs 353.90 and intraday low of Rs 346.70. This call has FAILED to reach target price as the stock couldn’t perform as expected.
Sukhani also suggested traders to initiate a Buy call for Britannia with a stop loss of Rs 3,350, target at Rs 3,550. Britannia Industries opened at Rs 3450 and the touch touched intraday high of Rs 3475. This call also FAILED to reach target price as Britannia traded in a limited range on Monday.
Sukhani suggested SELL Call for IGL with a stop loss of Rs 456, target at Rs 440. IGL opened at Rs 447 and touched intraday high of Rs 452.90. The stock touched intraday low of Rs 443.40. The stock couldn’t perform as expected. This call has FAILED.
Traders were suggested to SELL NIIT Tech with a stop loss of Rs 1,375, target at Rs 1,270, as per Sukhani. NIIT opened at Rs 1332 and the stock touched intraday high of Rs 1356. While the stock couldn’t reach target price, this call was moderately successful.