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Buy Edelweiss Financial & sell HPCL, says stock expert Prakash Gaba

Updated : May 09, 2019 01:48 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 Ceat, Castrol India, Bharat Petroleum Corporation (BPCL), NTPC, Steel Authority of India (SAIL), Zee Entertainment, Hindalco, Hexaware, Infosys, Dr Reddy's Laboratories, Hero Motocorp, Edelweiss Financial, and Hindustan Petroleum (HPCL).

Talking about stock, he said,“Edelweiss perhaps could see an up move from here. We can see a level perhaps closer to Rs 165 stop below Rs 148. HPCL looks weak, it could see a slide we could see levels closer to Rs 270 stop above Rs 280.”

“I have two stocks one long and one short. Dr Reddy's Laboratories looks weak and can see a slide to around Rs 2,810 stop above Rs 2880 should be fine. Stock that I like is Hero Motocorp possibly short covering could come here as well target on the upside Rs 2,615 stop below Rs 2,505.”

"I like Hexware. Looks like we could see an up move from here. Possible target on the upside is Rs 360 zones, stop below Rs 342 on Hexaware should be fine. Looks like it is a sideways move, up move seems to be starting. Exactly similar is the case with Infosys. Looks like a good base formation here, perhaps target on the upside is Rs 740 and Rs 720 seems to be a strong support zone to work with, we need a stop below that."

“Ceat looks like could be a buying opportunity if the market bounces back, the target on the upside is Rs 1,080, stop below Rs 1,047. Castrol has a target on the upside of Rs 153 and stop loss below Rs 148," Gaba said.

“BPCL looks like could see a slide to Rs 363, stop above Rs 384 and a fresh selling could start in NTPC, target on the downside at Rs 129 and stop above Rs 132,” he 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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