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 Manappuram Finance, NCC, Mindtree Tata Consultancy Services (TCS), Bharti Infratel, Eicher Motors, Axis Bank, MCX, Engineers India, Sun Pharmaceutical.
Gaba said, “I have two stocks on the short side. Engineers India (EIL) looks weak. Possibly we can see levels closer to Rs 100 zones, stop above Rs 107 should be fine. Sun Pharmaceutical is looking weak. It can see a slide to around Rs 420 zones, stop above Rs 433.”
Talking about stocks Prakash Gaba said, "Axis Bank looks to me strong, we can see an up move around Rs 750 zones stop below Rs 730. It is a long trade. MCX, looks like a tad weak, we could see lower levels closer to around Rs 800 zones stop above Rs 821."
"Bharti Infratel looks okay to me on the long perspective. we could see an up move here target on the upside Rs 277 stop below Rs 261. Eicher Motors looks weak, target is Rs 18,050 zones stop above Rs 19,000 should be fine."
“Manappuram Finance looks like it is starting an initial buy move here possible target is Rs 120 zones stop below Rs 115 should be okay. NCC showed some good traction on Friday looks like if it continues up target on the upside is in the vicinity of Rs 100 stop below Rs 94. Two shorts, Mindtree looks like more of an exhaustion pattern out here. Possibly we could see level closer to Rs 960 stop above Rs 980. TCS looks like a fresh down move has started. Possibly Rs 2,090 is a target stop above Rs 2,160.”
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