The latest analysis and commentary by stock market guru Rajat Bose of rajatkbose.com on what is moving the markets today.
He also spoke at length on Larsen & Toubro (L&T), Aurobindo Pharma, Axis Bank, Asian Paints, Tata Consultancy Services (TCS) & Infosys, Motherson Sumi, Allahabad Bank.
Speaking about his stock ideas Rajat Bose said, "I have chosen two stocks, one on the buy side. Motherson Sumi which is on a recovery trail currently around Rs 128.80. I would put a stop loss below Rs 118.25 and I would keep a target of Rs 122.50 and Rs 124. Motherson Sumi to my mind is likely to show some good recovery. So, one can even buy for investments, at least short term it is expected to scale up to something like Rs 132-137. The stock that I would like to sell is Allahabad Bank. On a closing price basis, put a stop loss above Rs 47. That means if it hits Rs 47.10, then you exit. On the downside, I am expecting it to scale down to Rs 45.50. Of course that is an intraday target because I am giving sell call in the cash market.
“I have chosen IT, Tata Consultancy Services (TCS) May Futures, I would buy with a stop below Rs 2,068 targets Rs 2,110 and Rs 2,123. Infosys May Futures I would buy with a stop below Rs 708.50 and Rs 724 and if that is taken out then Rs 730 would be the next target.”
“Axis Bank is a buy. I would use Rs 825 and Rs 828 as the two targets for the day and I would put a stop loss below Rs 803.80 and this bank which is known for its momentum is likely to scale up so I give a buy to start with that. I have a pharma stock. Aurobindo Pharma day before yesterday Rs 691 to about Rs 656 had been the range and it closed around the mid-point and the open has been around the mid-point and after a protracted fall for many days it has actually formed a bottom around Rs 656. I would put a stop loss below Rs 674 and Rs 691 and 696 are the two targets. Larsen & Toubro is a buy around Rs 1,580 so I would buy there and put a stop loss below Rs 1,564 and targets will be Rs 1,610 and Rs 1,622. A sell call on Asian Paints. Rs 1,354 and Rs 1,349 are the two targets and I would put a stop loss above Rs 1,382.”Disclaimer
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