Shrikant Chouhan: BUY Cummins, Escorts and NMDC
Market analyst Shrikant Chouhan from Kotak Securities has suggested three BUY Calls for short term investors. Indian markets are expected to remain in a small range today as global markets closed flat yesterday. Indian markets are hovering around their all-time highs but some stocks seem quite expensive at current levels. A correction in the markets at this point would be a good thing.
Chouhan has suggested BUY Call for NMDC for a target of Rs 187 with a stop loss at Rs 177. The stock is looking strong on the charts.
Chouhan has suggested BUY Call for Cummins for a target of Rs 935 with a stop loss at Rs 890.
Other stock on Chouhan’s list is automobile major Escorts. Traders can BUY Escorts for a target of Rs 1,300 with a stop loss at Rs 1,200, as per Chouhan.
As the markets are at their all-time highs and market participants are bullish right now, there can be a trend reversal and a correction. Keeping a stop loss is a good strategy during such situations.
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.