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Buy HEG & sell Strides Pharma, says stock analyst Prakash Gaba

Updated : May 06, 2019 12:48 PM IST

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

He shared his views and readings on Bharat Forge, Exide Industries, Indiabulls Housing Finance, Tech Mahindra, Ashok Leyland, Tata Motors, Amara Raja Batteries, ITC, PVR, Raymond, HEG and Strides Pharma.

"HEG is certainly looking good, it can climb to around Rs 1,900 zones seen some good traction out there, stop below Rs 1,700 should be fine. Strides Pharma is sliding down to levels closer to Rs 455 stop above Rs 480."

"PVR looks like it is heading to levels closer to Rs 1,830, maybe even higher in the days to come. Stop below Rs 1,780. Raymond is also looking good to me today. Target on the upside is Rs 800, stop below Rs 760," Gaba said.

"Bharat Forge is a short covering buy. It can see an up move to maybe around Rs 505 zones, stop below Rs 475. Exide looks like a short covering buy. Possible target on the upside is Rs 224, stop below Rs 214. Stock that is make or break, if it makes it, then fine, or it could really break it here – Indiabulls Housing. I would have a stop below Rs 685 and trade long. Maybe it can go to Rs 740. However, if it breaks Rs 685, it is going down much deeper to maybe around Rs 600 zones in the days to come. Stock that looks weak is Tech Mahindra. I think it has seen a more of an exhaustion pattern out here. Possibly we could see a slide to maybe around Rs 800 zones, stop above Rs 823," Gaba added.

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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