The latest analysis and commentary by stock market gurus Sudarshan Sukhani of s2analytics.com, Ashwani Gujral of ashwanigujral.com, and Yogesh Mehta of Motilal Oswal on what is moving the markets today. Check out their top stock recommendations.
They spoke at length about HCL Technologies, Indraprastha Gas, Bank of India, Tata Motors, ACC, Motherson Sumi, Yes Bank, Dewan Housing Finance, Ashok Leyland, Larsen and Toubro, ONGC, Yes Bank, Bajaj Finance, Axis Bank, Jubilant Foodworks.
Sukhani recommended buying HCL Technologies and selling Indraprastha Gas and Bank of India.
“Indraprastha Gas (IGL) is a sell. That is a short sell and second is Bank of India. There are two sectors, two different companies – PSU banks are generally all available for short selling. HCL Technologies is a buy. IT is bucking the trend, a little bit only but for whatever it is worth, I would go long in IT and sell the others,” he said.
“Larsen and Toubro (L&T) is a buy with a stop of Rs 1,350 and target of Rs 1,400. ONGC is a buy with a stop of Rs 164 and target of Rs 176. Yes Bank is a buy with a stop of Rs 230 and target of Rs 252,” Gujral said.
Mehta advised buying Bajaj Finance, and selling Axis Bank and Jubilant Foodworks.
“We are recommending Bajaj Finance on the buy side. Currently it is near to its swing high of Rs 3,057 to Rs 3,063 levels. So, keeping a stop loss of Rs 3,030 in the May futures, target could be in the new highs range at around Rs 3,170 to Rs 3,180 level. Other two are short. One is Jubilant Foodworks. It has already broken its 50 day moving average and currently quoting below that. Next support level could be at 200 day moving average which is placed at Rs 1,280 level. One can short in May future keeping a stop loss of Rs 1,345 and target in the range of Rs 1,285 to Rs 1,290 level. Axis Bank, again a short candidate. It was respecting its support level of Rs 750-752 for the whole expiry, but today it has breached that and quoting at around Rs 745 levels. One can initiate a short in May future and keeping a stop loss of Rs 757 and target could be in the range of Rs 740,” he added.
Follow stock recommendations by Sudarshan Sukhani here: https://www.cnbctv18.com/author/sudarshan-sukhani-159/
Follow stock recommendations by Ashwani Gujral here: https://www.cnbctv18.com/author/ashwani-gujral-115/Disclaimer:
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