Vikas Jain: BUY Maruti Suzuki on declines and Hold Motherson Sumi
Market expert Vikas Jain from Reliance Securities has suggested trading ideas for Maruti Suzuki, Motherson Sumi and Thermax. Indian markets have been hovering around all time highs for major indices and many stocks have witnessed a strong rally in the recent months. Still, there are many opportunities for medium and long term investors in the markets considering the future growth prospectus of Indian markets.
Jain has suggested BUY on declines for automobile major Maruti Suzuki. The automobile major is expected to showcase strong performance in the coming quarters. Jain expects Maruti Suzuki to witness a multi-year breakout and the stock can test 8600-8700 levels. Short term and medium term investors can BUY Maruti Suzuki on declines for target price of Rs 8800.
Jain has suggested HOLD Call for automobile part manufacturer Motherson Sumi. The counter is holding its band of averages and moving higher, and we expect to scale an all-time high over the next few weeks. Jain has advised to hold the stock with a target of Rs 285.
Jain has suggested SELL for Thermax. Short-term traders should book profits at current levels and wait for a decline to enter. Jain suggests traders to book profits in Thermax after strong performance witnessed in the stock.
All trades should be carried out with strict Stop Loss. In case the trade doesn’t happen as per expectations, it is good to exit the trade if the call is in profit. TopNews will review performance of trading calls by the end of the trading session.