Varun Dubey: BUY Karnataka Bank, Bharat Dynamics, IIFL Finance; SELL BPCL
Market expert Varun Dubey has suggested three BUY Calls and one SELL Call for today’s trading session. Indian equities are expected to open lower today as global cues have turned negative. US markets closed slightly negative on Tuesday as investors are looking forward to US Federal Reserve meeting. The market direction in short term will depend interest rate decision of US Federal Reserve. NSE Nifty closed comfortably above 20,000 levels on Monday and that could act as a major support for NSE Nifty.
Dubey has suggested BUY Call for Karnataka Bank at current price for target of Rs 247 with Stop Loss at Rs 238. The stock is looking strong on technical charts and can offer good returns if markets remain positive.
Dubey has suggested BUY Call for Bharat Dynamics at current price for target of Rs 1090 with Stop Loss at Rs 1045. This call can take a few sessions to reach the target price, as per Dubey but the counter is fundamentally strong.
Dubey has suggested long term BUY Call for IIFL Finance at current price for target of Rs 750. The holding period for this call has been suggested at one year.
Dubey has suggested SELL trade for PSU energy major BPCL at current price for target of Rs 352 with Stop Loss at Rs 364.
All trades should be conducted with strict Stop Loss. Markets can have unpredicted moves based on news and trends in the global markets. Stop Loss is an important strategy to reduce the risk in case the stock doesn’t move as per the call given by market experts.