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 Allahabad Bank, BEML, SRF, SAIL, Power Finance Corporation, Axis Bank.
Stock specific, Gaba said, "Power Finance Corporation (PFC) looks good to me. There is a very good chance PFC can climb to Rs 128. Stop below Rs 117 should be fine. Stock that looks weak is Axis Bank. A slide to Rs 730 is a possibility. Stop above Rs 752."
"SRF looks like a buy. Possible target on the upside is in the vicinity of Rs 2,500 zones, stop below Rs 2,435 should be fine. Steel Authority of India (SAIL) looks weak. It is heading to levels closer to Rs 48 and I do not think it is stopping at Rs 48, we even see lower levels in the days to come. I would have a stop above Rs 52 and trade short," Gaba said.
Speaking about individual stocks, Gaba said, “Allahabad Bank is looking weak. It can see a slide. It is a break down stock. Target on the downside is Rs 50 and Rs 48, stop above Rs 55 on Allahabad Bank should be fine. BEML is another stock that looks weak. Possibly we could see a slide to around Rs 920 zones, stop above Rs 966.”
Follow stock recommendations by Prakash Gaba here: https://www.cnbctv18.com/author/prakash-gaba-117/Disclaimer:
The views and investment tips expressed by investment experts on CNBCTV18.com are their own and not that of the website or its management. CNBCTV18.com advises users to check with certified experts before taking any investment decisions.