The latest analysis and commentary by stock market guru Prakash Gaba on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Power Grid Corporation of India, HCL Technologies, Vedanta, Jain Irrigation Systems, Reliance Industries, Sun Pharmaceutical, Tata Steel, HPCL, and ICICI Bank.
"ICICI Bank certainly looks weak to me. The way it is trading looks like it is more of a sideways move after a downfall and I feel it can slide down to levels closer to Rs 368 zones stop above Rs 374. HPCL is another stock that look weak to me. Possible target on HPCL is a Rs 235 zones stop above Rs 242.”
“HCL Tech looks good to me, a good base formation out here, targets on the upside Rs 980-1,000 zone, stop below Rs 940 should be okay. Power Grid is another stock that I like, saw some good buying yesterday, good base formation as well, target on the upside Rs 198-200 zones, stop below Rs 192 and Vedanta I like – on Tuesday we had a good upmove, Wednesday and Thursday was more of a consolidation, I think the fresh upmove should start here, target on Vedanta is Rs 206 to Rs 210 in the days to come. Stop below Rs 195. I have a sell on Jain Irrigation, looks weak, the upmove is not very comfortable, possible target on the downside is in the vicinity of Rs 61, stop above Rs 67,” he said.
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