The latest analysis and commentary by stock market guru Prakash Gaba of prakashgaba.com on what is moving the markets today.
He shared his views and readings on Century Textiles and Industries, Dish TV India, Reliance Capital, Zee Entertainment Enterprises, Manappuram Finance Wipro, GAIL, Bata, LIC Housing Finance, and PC Jeweller.
Talking about stock picks Prakash Gaba said, “I like two stocks one is long and one is short. LIC Housing looks like a good buy, perhaps we can see an up move around Rs 490 zones if you give it a day or two maybe Rs 500 is possible stop below Rs 477 should be fine. Stock that looks weak is PC Jeweller, it is heading down to levels closer to Rs 100 zones stop above Rs 120 should be okay so all rallies need to be sold into.”
“One long and one short. Safe bet, I think GAIL still looks okay. It night go up to around Rs 345 zones, stop below Rs 336. Stock that looks weak, Bata. It is going down to levels closer to Rs 1,280 zones, stop above Rs 1,390.”
“I like Manappuram Finance that looks good to me, seen a good base formation closer to lows of Rs 112-113, I would have a stop below Rs 115 and trade long. On the upside we could see targets closer to Rs 121. There are pockets of shorts as well like Wipro. We could see a slide to maybe around Rs 278 zones stop above Rs 290.”
“I have all four sells here. Reliance Capital made a very strong support zone but I will not buy unless I see strength here. Reliance Capital is a safe sell can see a slide to around Rs 100 zone stop above Rs 112. Century Textiles looks like a sell can see a slide to maybe around Rs 870 zones stop above Rs 907. Dish TV looks again a weak move here. Possible target on the downside Rs 29-28 zones stop above Rs 33. Zee Entertainment still looking weak, possible target on the downside rs 320 or lower stop above Rs 363.”
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