The latest analysis and commentary by stock market guru Prakash Gaba on what is moving the markets today.
He also spoke at length on Indraprastha Gas, Reliance Industries, Hero MotoCorp, Bharti Airtel.
“Hero MotoCorp certainly looks good to me. It has seen a good up move on Friday. Today is again a pause. Looks like up move could continue in Hero MotoCorp. Target on the upside is in the vicinity of Rs 3,000 zones or even higher, the first target would be Rs 3,000, stop below Rs 2,700 should be okay. Stock that looks weak I think is Bharti Airtel. It is the Reliance Communication effect coming on Bharti. Looks weak, basic structure weak, sideways consolidation. It is not a consolidation, it looks more of a sideways move coming in. Stop above today’s high, somewhere closer to Rs 312 and a target of Rs 290," Gaba said.
Speaking about his picks Prakash Gaba said, “I like Reliance Industries, certainly looking good to me and it can climb to around levels close to Rs 1,300. Rs 1,275 - 1,300 is the target that I have stop below Rs 1,245. I also like Indraprastha Gas that looks good. It is going beyond Rs 300, give some time and space Rs 310 is possible stop still needs to be below Rs 285.”
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