The latest analysis and commentary by stock market guru Rahul Shah of Motilal Oswal on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about ACC, State Bank of India, ITC.
Recommending stock specific ideas, Shah said, “Three largecap stocks what I have been liking and we have seen decent movement in those stocks. Top of my mind is ACC. I think cement as a whole has been lackluster, but ACC has a good support at Rs 1,460. From there, we have seen decent longs built up in the stock and today’s also action if you look at, good built up in the stock. So I think one can go long with a stop loss of Rs 1,480 with a target of Rs 1,565. Second is State Bank of India (SBI). I think a lot of consolidation from the stock from Rs 285 to Rs 295 and I think now it is ready for breakout and ready to move up. So SBI one can go long with a stop loss of Rs 294 and target of Rs 305. Third again being from the largecap play, ITC. We have seen the entire consumer basket doing quite well in last few sessions. So ITC is out of its range of Rs 275 to Rs 282 band or so. So, my sense is from here ITC can go back to Rs 292-293 levels. Keep a stop loss of Rs 279.”Disclaimer:
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