Vishal Malkan: BUY DLF and Apollo Tyres

Vishal Malkan: BUY DLF and Apollo Tyres

Technical analyst Vishal Malkan has suggested two BUY Calls for short term traders. Indian markets were trading slightly weak on Thursday and we can expect the day to close lower. There can be a positive close if the US futures opens positive. Indian markets are looking strong at the moment but there can be a minor technical correction. Stocks have witnessed strong performance in the recent trading sessions and minor decline is a natural market move.

Malkan has suggested BUY Call for real estate major DLF. As per Malkan, the real estate counter has witnessed a strong performance and after a long time, DLF has crossed Rs 500 levels. The stock could see further strength as per Malkan. He has suggested BUY Call for DLF at current levels with target price of Rs 530 and 540. Stop Loss for this trade has been suggested at Rs 490. DLF is trading lower today.

Other stock on Malkan’s radar is Apollo Tyres. This stock has also outperformed in the recent times and looks strong on technical charts. The positive breakout in Apollo Tyres can take the stock higher. As per Malkan, the stock can be bought at current levels for target price of Rs 430 and 445 in the short term. He has suggested Stop Loss at Rs 400 for Apollo Tyres.

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.

Analyst Views: