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 Hindustan Unilever Ltd (HUL), Nestle India, Torrent Pharmaceuticals, Dewan Housing Finance Corporation (DHFC), DLF, Sun Pharmaceutical, Cipla, HCL Technologies, Dr Reddys, Amara Raja Batteries, Mahanagar Gas, Bajaj Auto, and Infosys.
“I have two stocks that I like. Bajaj Auto looks good, we can see an upmove here, target on the upside would be around Rs 3,050 stop below Rs 3,010 should be okay. We can make money out of Bajaj Auto. Second is Infosys, looks like it is bottoming out process is on. Very good place to buy Infosys. Target on the upside is Rs 730 stop below Rs 700.”
“Amara Raja Batteries certainly looks good to me. It has given a beautiful breakout and it is heading to levels closer to around Rs 790 zones, stop below Rs 750 on Amara Raja Batteries should be fine. I also like Mahanagar Gas (MGL). MGL is showing some kind of a traction here. Momentum is building up, MGL can climb to around Rs 930 zones, stop below Rs 900,” he said.
Stock specific, Gaba said, “I like Hindustan Unilever. It has seen a good bottoming out process. It can continue up to levels closer to Rs 1,760 and stop below Rs 1,720. I also like Nestle. Again a similar pattern like HUL; that can climb to around Rs 10,750 plus zones, stop below Rs 10,300. Torrent Pharma is another stock that I like. Momentum is there and it could continue up. Though it looks stretched, target on the upside could be around Rs 1,900 zones and stop below Rs 1,820. Sell Dewan Housing Finance. Looks like it could see a slide to around Rs 120 zones, stop above Rs 137.”
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