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 Bajaj Finance, Infosys, Maruti Suzuki, NBCC, Axis Bank, Mahindra & Mahindra (M&M), Ashok Leyland, Hero Motocorp, Ceat, Vodafone Idea.
Stock specific, Gaba said, “Ceat looks a tad weak, perhaps more profit booking is not ruled out. Target on the downside Rs 1,120, stop above Rs 1,160. Vodafone Idea is also not looking like a good idea. It can see a slide to around Rs 31 zones, stop above Rs 34. These shorts should be covered end of the day; I would not like to carry it tomorrow.”
“Two stocks and both on the short sides, I would say there is more of profit booking here. Ashok Leyland looks like there is some selling pressure here and possibly we could see a slide to around Rs 90 zones have a stop above Rs 94 and trade short. Second is Hero Motocorp, here to I feel there is some kind of a shorting opportunity available. Profit booking is going on target on the downside is Rs 2,645 stop above Rs 2,750.”
"I certainly like Axis Bank, it is heading to levels closer to around Rs 765 zones, Rs 760-765 -770 zones it is going up higher , stop below Rs 738 should be okay on Axis Bank. Mahindra & Mahindra (M&M) looks like it could go form here. it is cautious approach, very close to stop loss of around Rs 695 target Rs 715."
“Bajaj Finance that looks certainly good to me and is heading up. Last couple of days it is heading to perhaps closer to around Rs 3,000 zones so my target is Rs 2,950 stop below Rs 2,825. Infosys there is a negative news but it could be a kneejerk reaction. I would have a target of around Rs 735-740 zones stop below Rs 713. Maruti Suzuki is a place where make or break level so stop loss is very tight. I would say that somewhere closer to Rs 7,040 maybe it is an up move there to Rs 7,200 it is a make or break levels so there could be a trade on the long side here."
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