The latest analysis and commentary by stock market guru Prakash Gaba of prakashgaba.com on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about ACC, CG Power, Reliance Industries Ltd (RIL), United Spirits Ltd (USL), Tata Motors, ITC, Lupin, Ultratech Cement, TV18 Broadcast.
Stock specific, Gaba said, "Ultratech Cement looks good to me. We can see upper regions of Rs 4,400 in the days to come. First target would be Rs 4,300, stop below Rs 4,100 should be fine. I also like TV18 Broadcast; that is going up. Target that I have is around Rs 40 zones. Once it goes to Rs 40, then I would very comfortably say that it has bottomed out. I like the pattern, the structure in the lower regions. I think it is a good pick here for buy and hold."
"I will go with the cement pack. I like the cement pack; ACC or Ambuja Cement does not matter, which ever you take is going up. I preferred ACC. It is looking good and can climb to around Rs 1,730 zones, stop below Rs 1,655. I have CG Power. It looks like a good base formation, possibly good place to go up from – bouncing from a strong support. It can go up to Rs 43 zones, stop below Rs 38. I like Reliance Industries. Reliance is the only stock that can singlehandedly take the market up. It is taking support from a good support zone. Possible target on the upside Rs 1,382, stop below Rs 1,332. United Spirits, it is a good base formation. If you do not have a stop, you can have a bigger move up there, but if you want to have it purely from a trading point of view, then you need to have a stop below Rs 555. I think it is heading to Rs 570-580 and more higher levels in the days to come," Gaba said.
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