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 Ashok Leyland, Hero Motocorp, Hindustan Unilever Ltd (HUL) and Reliance Industries Ltd (RIL), Asian Paints, Titan, ICICI Bank, Nestle, Marico, IndusInd Bank, Maruti Suzuki India.
“I like two stocks one is IndusInd Bank, the move has just started, when the move starts that means there is an upside here. I would say that it can climb to levels closer to Rs 1,570 to even Rs 1,600 zone in days to come. So, IndusInd Bank is going up. Stop below Rs 1,530 should be okay. Second is Maruti Suzuki. I like Maruti, good base formation here. Consolidation got over, yesterday the move started today it is continuing, it is further Rs 7,300 to 7,400 stop below Rs 7,125.”
“I will go with Ashok Leyland to start with, we have seen a good bottoming out somewhere closer to Rs 80, that stock has bottomed out, heading to a psychological level of Rs 100 matter of time, stop below Rs 92 no Ashok Leyland should be fine. Hero Motocorp is another stock, did quite well for the last couple of days. Here again, looks like the bottoming out process is on, Rs 2,600 is a very strong support to work with. I think it is heading to Rs 2,900-3,000 zone, it is a matter of time, stop below Rs 2,750. I like HUL, this stock has bottomed out. It looks like the bar that was formed yesterday, gave the first initial signals of bottoming out, possible target on the upside Rs 1,740-1,750, stop below Rs 1,700. Finally, the good old RIL take the entire market on its own shoulders, heading to Rs 1,340-1,350 zones, stop below Rs 1,290,” he said.
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