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 Tata Steel, Bharat Forge, and Hindustan Unilever.
Recommending stock specific ideas, Shah said,” I have three long ideas. One is from the metal space. We have seen the steel stocks doing quite well from last two weeks. So I think in the top of my mind is Tata Steel. We have seen good longs built up in the stock and a good technical breakout above Rs 485 levels or so. So I think I would go long in Tata Steel with a stop loss of Rs 492 and target of Rs 518.”
“Second is Bharat Forge. We have seen this stock being hammered from Rs 600 levels to Rs 440 or so from there. I think we have seen a good bounce back and I think the stock is consolidating from Rs 485 to Rs 490 levels. So I think from here risk to reward could be favourable for a long side. So I would go long on Bharat Forge with a stop loss of Rs 484 and target of Rs 505,” he added.
“Third idea is Hindustan Unilever (HUL). We have seen some decent longs built up in HUL and a breakout also in a technical perspective in HUL. So, I will buy HUL with a stop loss of Rs 1,745 and target of Rs 1,810,” he added.Disclaimer:
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