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Buy Cipla & Colgate, says stock expert Prakash Gaba

Updated : May 28, 2019 02:37 PM IST

The latest analysis and commentary by stock market guru Prakash Gaba of prakashgaba.com on what is moving the markets today.

He also spoke at length on Axis Bank, Hindustan Unilever (HUL), Indian Oil Corporation (IOC), RBL Bank, Hindalco, Coal India, Bharat Forge, JSW Steel, Dish TV, Cipla, Colgate, Yes Bank, Aptech.

Speaking about his stock recommendations Prakash Gaba said, "I would trade Cipla. Cipla is still long for me and I think Cipla can climb to levels closer to Rs 590 zones. I would have a stop below Rs 576 and trade long. Second stock that I would like is Colgate. I think Colgate is also looking good to me. Seen some traction out here, target on the upside is Rs 1,210, stop would be Rs 1,180."

"I have two stocks. One, I had given Bharat Forge in the morning, the target was Rs 548 and that is achieved. I have modified the target now, it is a fresh buy here. For a target of Rs 520, it may happen today evening or even tomorrow morning. I think Bharat Forge is going to Rs 520 plus zones, stop below Rs 485 on Bharat Forge should be fine. I also like Dish TV. It is building up. Looks like it is heading to levels closer to Rs 34, stop below Rs 31."

“Two stocks I will go for Bharat Forge that certainly is looking good to me. Has seen some traction. It can continue to around Rs 505 zones stop below Rs 481. I also like JSW Steel it has seen a good consolidation. After consolidation a breakout has come in. Possible target Rs 303 or even higher stop below Rs 290.”

“I like two stocks both on the long side. Hindalco certainly looks good to me and I feel Hindalco can see an up move to may be around Rs 210 stop below Rs 200 should be fine. I also like Coal India it has seen a good up move this momentum should increase target is Rs 255 stop below Rs 245.”

“I have picked up Axis Bank purely on momentum. It is climbing to levels closer to Rs 830 stop below Rs 800. HUL is again a good buy for me and it has shown that new move is starting form here. The first target I have is Rs 1,800 but looks like it is going beyond that stop below Rs 1,700. Oil marketing companies all of them are looking good I just happened to pick up Indian Oil Corporation, good consolidation, possibly climbing to Rs 170 zones stop below Rs 159. RBL Bank has given a major breakout on a higher timeframe basis, target Rs 730 stop below Rs 680.”

Follow stock recommendations by Prakash Gaba here: https://www.cnbctv18.com/author/prakash-gaba-117/

Disclaimer: The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.
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