The latest analysis and commentary by stock market guru Amit Gupta of ICICI Direct on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Jubilant Foodworks and RBL Bank.
Speaking about individual stocks, Gupta said, âSome kind of long liquidation is going to happen, some profit booking may be there and that is Jubilant Foodworks should come back to Rs 1,200. I am not expecting the stock to fall below Rs 1,150, but at least Rs 1,200 level can be reached and that is where you will see a fall of 70-80 points from the current levels. So this is something we can go short.â
âRBL Bank has remained very resilient which means the volatility in the stock is declining which shows an accumulation mode for the stock. Rs 630 was the level where we had seen life high volumes very recently. Earlier a fall from Rs 630 to Rs 450 came which was almost a 30 percent fall in the second half of 2018 and then in this move this life high volume has come. My sense is, it has taken out the two year consolidation range which has a price of around Rs 600 and from here onwards maybe some more resilience and then the stock should move towards Rs 730,â he added.Disclaimer:
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