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 HPCL, United Spirits, Ujjivan, Mahindra and Mahindra, Steel Authority of India, V-Guard Industries, Voltas, Tata Global Beverages.
“I have two stocks, one long and one short. I think Mahindra and Mahindra (M&M) certainly is looking good to me. We could see an up move from here. Possible target on the upside is in the vicinity of around Rs 690. It may take today or maybe tomorrow, but looks like Rs 690 is possible on Mahindra and Mahindra. Stop below Rs 667 should be okay. The stock that looks weak is from the metals pack, Steel Authority of India (SAIL). Looks like we could see a slide to around Rs 55 zones, stop above Rs 58 should be okay," Gaba said.
Speaking about individual stocks, Gaba said, “I would look at HPCL. Looks like HPCL can climb up from here. Some kind of a base formation is there. Target on the upside is Rs 270, stop below Rs 255 should be okay. I like United Spirits. It is looking like it is trying to go up from last couple of days, we may see a target of around Rs 562. I do not think it is stopping there; I think it is going to Rs 575 zones. It may take few days for that, stop below Rs 543 on United Spirits should be okay.”
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