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 Cholamandalam Investment and Finance Company, Godrej Consumer Products, Yes Bank, Interglobe Aviation (Indigo), Sun Pharmaceutical, HCL Technologies, HPCL, Hero MotoCorp, Asian Paints, Reliance Industries, Indiabulls Housing Finance, Mahindra and Mahindra, Exide Industries, and United Spirits.
Talking about stocks, he said, “Exide Industries looks like it could stretched on the downside, we could see an up move from here, if that happens target on the upside is Rs 215, Rs 218 zones stop below Rs 210 should be fine. I like Untied Spirits, looks like it should be going up from here target on the upside is Rs 550 stop below Rs 524.”
"Reliance Industries looks like it is holding out. We have seen so much of down move, perhaps some kind of short covering could happen here. I feel that dips until Rs 1,250 could be bought, target of around Rs 1,300 zones. Indiabulls Housing Finance is another stock that looks good. Is failing to fall kind of a situation where perhaps I feel a target of Rs 710 is there, stop below Rs 685 should be fine."
"I would go long on Cholamandalam Investment with targets on the upside Rs 1,370, stop below Rs 1,280 exactly is the case with defensive bet Godrej Consumer; I would like to go long here with targets on the upside at Rs 655 and stop loss below Rs 630. The target on the upside for Yes Bank could be Rs 180, stop below Rs 161," Gaba said.
“Indigo could see a slide to Rs 1,485 zone, stop above Rs 1584,” he added.
Follow stock recommendations by Prakash Gaba here: https://www.cnbctv18.com/author/prakash-gaba-117/
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