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 Larsen and Toubro (L&T), Tata Consultancy Services (TCS), Tata Steel.
Recommending stock specific ideas, Shah said, “L&T post results we have seen a good built up and long built up in the stock. So we believe that one can go long on L&T after Friday’s low of around Rs 1,288. So there it is a support what we believe is. So risk to reward can be favourable going long in L&T. So I would buy L&T with a stop loss of Rs 1,288 and target of Rs 1,340. TCS is a buying idea. We have seen all IT companies doing quite well and largecap IT predominantly has been doing quite well. So TCS we have seen long additions on Friday as well as in today’s session also. So I believe one can go long on TCS with a stop loss of Rs 1,925 and target of Rs 2,015.”
“From the metal space we have seen there is continuously sell offs in last three months and I think it will continue to do bad going forward as well. So Tata Steel remains a top short idea from that list. I think it has broken the near term support also and last time’s low of Rs 454. So with that stop loss, one can go short with a target of Rs 430,” he added.Disclaimer:
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