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 Hero MotoCorp, Larsen and Toubro, Raymond, State Bank of India, Bajaj Hindustan, Manappuram Finance, Maruti Suzuki, Just Dial, Adani Enterprise, Biocon, Apollo Hospitals, and Dewan Housing Finance Corporation (DHFL).
Speaking about individual stocks, Gaba said, “I like Apollo Hospitals, possibly we can see a target closer to Rs 1,400 zones looks like it can go up here stop below Rs 1,360. Dewan Housing is a safe short. I think it is going to levels below Rs 75 so target is Rs 75 stop above Rs 91. You get rally short it, looks like a safe short.”
“Hero MotoCorp looks like a buy. Possibly we can see an up move here, target to around Rs 2,850 and stop below Rs 2,730. I have three shorting ideas. Start with Larsen and Toubro (L&T). It has broken down a lot after a good up move, more of an exhaustion pattern here. Target on the downside is Rs 1,460 and stop above Rs 1,550. Raymond also has run up too fast, possibly time to rest. Bouncing back I would say would be difficult now. Possibly we can see a slide to around Rs 775 zones, stop above Rs 825. State Bank of India (SBI) and the banking sector looks weak to me. Again more of a fatigue out here, more of a break down here. Possibly we could see a slide to Rs 325 zones, stop above Rs 345.”
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