The latest analysis and commentary by stock market guru Prakash Gaba of prakashgaba.com on what is moving the markets today.
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He shared his views and readings on ITC, Mindtree, NMDC, Ujjivan, DCB Bank, Marico, Vedanta, Kaveri Seed, Hindalco, BPCL, Tata Global Beverages, Dewan Housing Finance (DHFL), and Reliance Infrastructure.
“Two stocks both on the short side. One is Dewan Housing Finance, the way it is trading and the fresh signal has been generated here on the short side I think it is heading to levels closer to Rs 100 zones may take a day or two for that but looks like Rs 100 is on the cards stop above Rs 130 should be fine. Reliance Infrastructure I another stock to look weak to me, here too I feel it is heading to around Rs 100 may eventually breach the Rs 100 mark and go below it; stop above Rs 108 on Reliance Infra is weak. A fresh signal has been generated her as well.”
"Hindalco looks good. I think it is going up to levels closer to Rs 210 zones, stop below Rs 200; showing some traction in the lower regions. BPCL looks weak. It can see a slide to Rs 360 zones, stop above Rs 390," Gaba added.
"ITC looks like a buy. It shows some strength here; target on the upside Rs 310 plus zones, stop below Rs 304 should be okay. Mindtree showed some traction yesterday. Perhaps it could continue here. Target on the upside Rs 995, stop below Rs 975. I think it is heading to Rs 1,000 zones. Two stocks look weak. One is NMDC. We saw some kind of a crack yesterday and it could continue down to around Rs 93 zones, maybe Rs 90 possible. Stop above Rs 98. Ujjivan is another stock that looks weak. Possible target could see a slide to around Rs 300 zones, stop above Rs 317," Gaba said.
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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.