Market Expert Suggests Four BUY Calls for Private Banks Amid COVID-19 Stimulus Package Announcement

Strategic Insights -

As Prime Minister Narendra Modi announced a Rs 20 lakh crore stimulus package to help the Indian economy recover from the COVID-19 pandemic, market expert Ashwani Gujral has suggested traders to take advantage of the favorable market conditions. Gujral has recommended four BUY calls for private banks and financial services major Bajaj Finance, while advising a single SELL call for Tata Steel. With the Indian markets expected to open positively, traders are advised to be cautious and set strict stop losses for all trades.

Key Takeaways:

  • Ashwani Gujral recommends BUY call for Bajaj Finance with a stop loss of Rs 2,040 and target at Rs 2,120, citing the stock's strong momentum and daily movement.
  • Traders can Buy IndusInd Bank with a stop loss of Rs 440 and target at Rs 475, as per Gujral's suggestion.
  • Gujral also suggests BUY calls for Axis Bank and ICICI Bank, with respective stop losses of Rs 380 and Rs 315, and targets of Rs 397 and Rs 342.
  • Gujral advises traders to initiate a BUY trade in ICICI Bank, citing the bank's potential for growth.
  • Only SELL call from Gujral is for Tata Steel, with a stop loss of Rs 278 and target at Rs 263, due to expected market volatility.

Statistics:

  • Rs 20 lakh crore: The size of the stimulus package announced by Prime Minister Narendra Modi to support the Indian economy.
  • 400 points: The decline in Dow Jones by the end of the trading session in the US markets.
  • Rs 2,040: The stop loss for Bajaj Finance as recommended by Ashwani Gujral.
  • Rs 2,120: The target price for Bajaj Finance as suggested by Gujral.
  • Rs 440: The stop loss for IndusInd Bank recommended by Gujral.
  • Rs 475: The target price for IndusInd Bank as suggested by Gujral.
  • Rs 380: The stop loss for Axis Bank recommended by Gujral.
  • Rs 397: The target price for Axis Bank as suggested by Gujral.
  • Rs 315: The stop loss for ICICI Bank recommended by Gujral.
  • Rs 342: The target price for ICICI Bank as suggested by Gujral.
  • Rs 278: The stop loss for Tata Steel recommended by Gujral.
  • Rs 263: The target price for Tata Steel as suggested by Gujral.

Sources:

  • Ashwani Gujral
  • Prime Minister Narendra Modi
  • Contify.com
  • G. D. Technologies
  • TopNews