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 Raymond, JSW Steel, L&T Finance Holdings, Oriental Bank of Commerce (OBC), Hero Motocorp, State Bank of India (SBI), ICICI Bank, Shriram Transport Finance Co, Ashok Leyland, Torrent Power.
"I will go with Ashok Leyland. I think that looks good. Psychological level is around Rs 100, it is going there, but it is not stopping there, it is going beyond there in the days to come. Stop would be below Rs 95 and trade long on Ashok Leyland. I also like Torrent Power. Torrent Power certainly is good. It has seen a good two days of up move, some pause and again an up move has started. Target on the upside Rs 270, stop below Rs 260," Gaba said.
"I have two stocks ICICI Bank certainly looks good to me seen a massive up move after a good breakout. Looks like it is heading to levels closer to around Rs 415 stop below Rs 397 should be fine on ICICI Bank. I like Shriram Transport Finance Co that has turned around, looks like upmove has started again target on the upside Rs 1,260 zones stop below Rs 1,215."
"Hero Motocorp look good to me, it has seen a good base formation upmove and again a big upmove. It is heading to around Rs 2,800 zones stop below Rs 2,715. I like State Bank of India, it is certainly looking good, it is heading to levels closer to Rs 330 stop loss Rs 315."
“Tata Motors is a lovely stock, it is heading to levels closes to Rs 250. The way it run up yesterday I won’t be surprised if it has big move. I would have a tight stop on Tata Motors somewhere closer to Rs 223 and trade long here. I like Raymond, it has showed some reversal pattern yesterday. Possible target on the upside on Raymond is Rs 820 zones stop below Rs 787. Metals are looking good, so I have JSW Steel possibly JSW Steel can climb to around Rs 298-300 zones stop below Rs 289. I have L&T Finance target of the upside Rs 155-157 stop below Rs 148.”
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