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 Bharat Forge, Exide Industries, Mahindra & Mahindra (M&M), NBCC, Cummins, Shriram Transport Finance, Larsen & Toubro (L&T), Yes Bank, Tata Steel, and SAIL.
Speaking about his stock recommendations Prakash Gaba said, “Metal pack is certainly looking good to me. Tata Steel when I look at the chart it tells me that it can go higher. I have a target around Rs 525 may take some time for that stop below Rs 493 is good. Dips are buying opportunity in Tata Steel. I also like Steel Authority of India (SAIL) the move has just started possibly we see an extension of this move. The target could be Rs 56 zones stop below Rs 52.”
“I like Larsen & Toubro (L&T), that certainly is looking good to me it is trading well good momentum, the momentum should continue target on the upside is around Rs 1,600 zones stop below Rs 1,545 should be fine. I also happen to like Yes Bank, looks like some buying interest today. Is it a sideways move? Possibly sideways move has been here for 4-5 trading session. Today the up move could continue here target on the upside Rs 160 zones stop below Rs 140.”
“Two stocks look good to me Cummins look good possibly target on the upside Rs 776 stop below Rs 750. I like Shriram Transport Finance Company as well, it I heading to levels closer to Rs 1,170 zones stop below Rs 1,110.”
“The theme is auto direct and indirect place. Bharat Forge looks good, good base formation after a consolidation. Target on the upside Rs 500 zone stop below Rs 465. Exide Industries looks good as well. It is a good turn around stock possible target on the upside is Rs 230 zones stop below Rs 216. I like Mahindra & Mahindra (M&M) again a consolidation and an up move has started target on the upside Rs 690 stop below Rs 648 and finally I like NBCC, good up move, target on the upside Rs 66 stop below Rs 59.”
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