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 LIC Housing Finance, Multi Commodity Exchange of India (MCX), Vedanta, Bata India, Bharat Forge, BPCL, Aurobindo Pharma, Tata Steel, M&M Finance, Yes Bank, Bajaj Finance and Kotak Mahindra Bank.
Speaking about stock recommendations Prakash Gaba said, “Bajaj Finance looks good to me, it is going up from here possibly we will see an upmove here. Its momentum has increased target on the upside Rs 3,020 stop below Rs 2,951. I also happen to like Kotak Mahindra Bank looks like it should go from here. Possibly Rs 1,420 is the target stop below Rs 1,390.”
“M&M Financial certainly is looking good to me. I think the way it is trading, it can climb to around Rs 385 zone, stop below Rs 372. Stock that looks weak is Yes Bank. Possibly we could see a slide to Rs 135, stop above Rs 156.”
“I like Aurobindo Pharma, that looks good, target on the upside is Rs 755 stop below Rs 715. I also happen to like Tata Steel, looks like the momentum has started possibly target on the upside Rs 495 even Rs 500 is possible stop below Rs 475.”
“Two stocks both on the long side, Bharat Forge looks good, I think the build-up has started, target on the upside Rs 480 stop below Rs 453. BPCL that looks good as well and is climbing to levels closer to Rs 380 zones stop below Rs 355.”
“I have three buys, I like LIC Housing Finance certainly looking good. Target on the upside Rs 500 stop below Rs 480. MCX looking good, target on the upside Rs 852 stop below Rs 812. Vedanta is also looking good on the upside target Rs 168 stop below Rs 156. A solitary sell is Bata, looks like it is adding levels closer to Rs 1,260 stop above Rs 1,340, it is more of an exhaustion pattern out here.”
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