Varun Dubey: BUY Manappuram, Himatsingka Seide, Supreme Industries and GMDC; SELL CONCOR
Market expert Varun Dubey has suggested four BUY Calls and one SELL Call for today’s trading session. Indian equities are under selling pressure this week and today’s session could lead to further selling as per the trends. Indian markets are expected to open negative today and we could see further weakness in equities during the session. NSE Nifty could go below major support level of 19,500 and there can be fresh selling across the board. US markets closed flat on Thursday but the sentiment is bearish. We could see short term correction in Indian markets if NSE Nifty fails to hold support levels in today’s trade.
Dubey has suggested BUY Call for Himatsingka Seide at current price for target of Rs 130 with Stop Loss at Rs 120. The stock is looking strong on technical charts and can offer good returns if markets remain positive. This call could take a couple of trading sessions in case markets remain negative or range-bound today.
Dubey has suggested medium term BUY Call for gold finance company Manappuram at current price for target of Rs 180. The holding period for this call is 6-8 months.
Dubey has suggested BUY trade for GMDC on back of positive news. Traders can BUY the stock at current levels for target of Rs 176 keeping a Stop Loss at Rs 166.
Dubey has suggested BUY Call of Supreme Industries at current levels for target of Rs 4000 with Stop Loss at Rs 3790.
Dubey has suggested SELL Call for Container Corporation as the stock is looking weak at current levels. Short term traders can SELL CONCOR at current price for target of Rs 675 with Stop Loss at Rs 705.
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.