The latest analysis and commentary by stock market guru Prakash Gaba of prakashgaba.com on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Aurobindo Pharma, Maruti Suzuki India, CG Power, IDBI, Hindustan Unilever Ltd (HUL), Godrej Consumer Products, MCX, Power Finance Corporation, PC Jeweller, GAIL, Ujjivan, Maruti Suzuki, Yes Bank, SAIL.
Stock specific, Gaba said, "GAIL is certainly looking good to me. Target on the upside is Rs 360, stop below Rs 345. Ujjivan also is looking good. Target on the upside is Rs 340, stop below Rs 317."
"MCX certainly looks good to me. It can climb to around Rs 850 zones, stop below Rs 813 should be fine. Stock that looks weak is Power Finance Corporation (PFC). Looks like it can see a slide to levels closer to Rs 112, stop above Rs 117," Gaba said.
“Aurobindo Pharma looks good to me. The way it is trading, looks like it is heading to levels closer to Rs 840 zones, maybe take a day or two for that, stop below Rs 800 should be fine. Stock that looks weak, Maruti – it should slide down to Rs 6,600 zones, stop above Rs 6,880,” he said.
“CG power looks okay to me. It can go up to around Rs 42-43 zones, stop below Rs 37. IDBI looks again a good buy, looks like it is a good base formation. So safe buy on the upside, target Rs 46, stop below Rs 43, give some more days, it may even go to Rs 50. Godrej Consumer is a weak stock, looks weak, can slide down to Rs 630 zones, stop above Rs 665. HUL is another stock that looks more of an exhaustion pattern out here, possible target on the downside Rs 1,700, stop above Rs 1,746,” he added.
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