The latest analysis and commentary by stock market guru Prakash Gaba of prakashgaba.com on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Indian Bank, Nestle India, Siemens and Tata Consultancy Services (TCS), Motherson Sumi, NBCC, JSW Steel, Tata Motors, Vedanta, Ashok Leyland.
Stock specific, Gaba said, "I like Ashok Leyland. It certainly looks good to me. Ashok Leyland can see a climb to maybe around Rs 94-95 zones, Rs 96 is also possible in the days to come. Stop below Rs 88 on Ashok Leyland should be fine. I like Vedanta. That certainly looks good to me. I think it is running up to levels closer to around Rs 190 zones, stop below Rs 180."
"I will go with Indian Bank. It is certainly looking good to me. Target that I have is slightly more aggressive, maybe we can see higher levels in the days to come, Rs 300 is the target. Stop below Rs 264 should be good. I like Nestle. Slow mover, but looks like it is coming out of a beautiful classical textbook pattern out here. Nestle is climbing to levels closer to Rs 11,400 to Rs 11,500 in the days to come. Stop below Rs 10,800 should be fine. I like Siemens as well. Again a defensive bet here, I like the structure, good base formation. Siemens can climb to around Rs 1,130 to around Rs 1,150 zones. Stop below Rs 1,060 should be okay. I like Tata Consultancy Services (TCS) from the IT pack. Looks like there is a good setup. If the move has to start, it has to start today. Target on the upside, Rs 2,050 and stop Rs 1,970," Gaba said.
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