NIFTY 50

Buy Petronet LNG & sell Sun Pharma, says stock expert Prakash Gaba

Updated : May 08, 2019 01:47 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 Dewan Housing Finance, Jindal Steel and Power, Steel Authority of India, Birla Corporation, MRPL, CG Power, Mahanagar Gas, Dabur, TVS Motors, Zee Entertainment, United Spirits, UPL, Sun Pharmaceutical Industries and Petronet LNG.

"Petronet LNG looks good to me, it can see a climb to around Rs 243 zones stop below Rs 235 on Petronet LNG should be fine. I also like one stock which is on the short side that is Sun Pharma. It looks like is fallen down and the way it is trading looks like it can see a slide to around Rs 422 zones stop above Rs 440-445 should be okay.”

“Two stocks both on the long sides so perhaps buying is possible here. I like United Spirits looks like it is going up from here target on the upside is closer to around Rs 543 zones, stop below Rs 523 should be fine. I also like UPL, it has shown some traction, the upmove could continue target on the upside Rs 980 maybe in the couple of days Rs 1,000 who knows, stop below Rs 953.”

“TVS Motors looks good to me. I think TVS Motors is heading to levels closer to around Rs 505 zones or maybe higher. Stop beloe Rs 480 on TVS Motors should be fine. One stock that looks weak is Zee Entertainment. I think it is falling, it has already come down, possibly we will see even Rs 325 coming in. I would have a stop above Rs 370 and trade short," he said.

“I have a sell call on Dewan Housing Finance (DHFL). It has broken down; breakdown perhaps could see levels closer to around Rs 100. That is a psychological support. Will it break that? Possible, who knows. Stop around Rs 124 should be fine. Jindal Steel and Power (JSPL) is weak. I think it is heading down towards levels closer to Rs 160 zones, stop above Rs 173. Steel Authority of India (SAIL) also is looking weak from the metal space. I think it is heading to levels closer to Rs 50, stop above Rs 54. One solitary buy, I have picked up Birla Corporation. Perhaps we can see an up move to around Rs 580 zones, stop below Rs 540. A dip could be bought," 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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