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 Indian Oil Corporation (IOC), Jubilant Foodworks, Dr Reddys Laboratories (DRL), Shriram Transport Finance Corporation, State Bank of India (SBI) and Tata Elxsi.
“IOC looks good to me, it can climb to levels closer to around Rs 141-142 zones, stop below Rs 137 should be okay. Jubilant Foodworks is giving up some traction. Possible target on the upside is Rs 1,250 zones, stop below Rs 1,195, it is looking good as well,” he said.
“DRL looks good to me, a good base formation, upmove is continuing, target on the upside is Rs 2,700, stop below Rs 2,650. I like Shriram Transport as well. looks like we have seen 7-8 days of downmove, upmove should start, yesterday was a first indication we got that it is going up, target on the upside Rs 1,150-1,160 in a day or two, stop below Rs 1,090 should be okay. I also like SBI. Looks like PSU basket could be up today and SBI being the strongest stock, target on the upside, Rs 295, stop below Rs 285 and have a sell on Tata Elxsi. Broken down structure, looks like it can see a slide to around Rs 900 zone, a very tight stop above Rs 940 should be okay,” he added.
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