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Rahul Shah on January 14: Buy ITC, & ICICI Bank; Sell Asian Paints

Updated : January 14, 2019 12:07 PM IST

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 ITC, ICICI Bank, Asian Paints.

Recommending stock specific ideas, Shah said, “We have seen the entire FMCG pack doing quite well in the last few sessions. On that front, I think ITC is one stock which has moved out from its range of Rs 270-290. It has given a fresh breakout plus decent long addition. So, I would go long on ITC with a stop loss of Rs 286 and target of Rs 300. Second buy recommendation is on a corporate bank, ICICI Bank. We have seen this bank performing quite well in last few sessions and we continue to remain bullish on it. The risk reward again could be very favourable in it. So, buy ICICI Bank with a stop loss of Rs 372 and target of Rs 388.”

“On the short side, Asian Paints, we have seen the stock facing a resistance around Rs 1,400 or so. I would go short on Asian Paints with a stop loss of Rs 1,418 and target of Rs 1,350,” he added.

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.
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