The latest analysis and commentary by stock market guru Prakash Gaba of prakashgaba.com on what is moving the markets today.
He also spoke at length on Axis Bank, Tech Mahindra, Hero MotoCorp, State Bank of India, CESC, JSW Steel.
Stock specific, Gaba said, "I will go with CESC. That certainly is looking good to me. It is showing some traction. Target on the upside is Rs 740, stop below Rs 726 should be okay. I also happen to like JSW Steel. That has turned around. Target on the upside Rs 298-305 zones, stop below Rs 289."
"Hero MotoCorp certainly is looking good to me. The way Hero is trading, looks like it is heading towards Rs 2,790 or even Rs 2,800 is a target that I have. Stop below Rs 2,640 on Hero MotoCorp should be fine. I also happen to like State Bank of India. If Nifty and Bank Nifty has to go up, then State Bank of India should contribute. Technical targets on the upside Rs 325, stop below Rs 312," Gaba said.
“I have two stocks here, I will start with Axis Bank certainly I would say that Axis Bank the way it is trading looks like it is heading to levels closer to Rs 780 that is the first target but once it goes there it is going higher stop below Rs 760 on Axis Bank should be fine. I also happen to like Tech Mahindra, target on the upside is Rs 810 stop below Rs 785 should be okay.”
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