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 HCL Technologies, IDFC, Jet Airways, Raymond, Maruti Suzuki, Mindtree, JSW Steel, Zee Entertainment, Larsen and Toubro, Tata Consultancy Services, JSW Steel and Bharat Financial Inclusion.
Speaking about individual stocks, Gaba said, “I have two stock both on the shorting side, Bharat Financial Inclusion looks weak and can see a slide to levels closer to around Rs 875 zones stop above Rs 940 should be okay. JSW Steel is another stock that looks weak. It is broken down possible target on the downside Rs 260 stop above Rs 270.”
He also added, “I have a buy on HCL Technologies; that certainly looks good. It can see a climb to around Rs 1,000 zones. I would have a target of Rs 990 and trade long, stop below Rs 960 should be okay. IDFC looks like a good short. It can see a slide to around Rs 38, maybe Rs 37, stop above Rs 41 should be okay. Jet Airways could have a hard landing. Slide to Rs 240 is a possibility, maybe Rs 235, stop above Rs 260 should be okay. Raymond looks weak. I think it is breaking down. Target on the downside Rs 740, stop above Rs 780.”
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