The latest analysis and commentary by stock market guru Kiran Jadhav on what is moving the markets today. Check out his top stock recommendations.
He spoke at length about Amara Raja Batteries, Aurobindo Pharma, Ultratech Cement.
Recommending stock specific ideas, Jadhav said, “First stock is a sell on Amara Raja Batteries. Amara Raja Batteries chart is pretty weak. If you look at the charts, it has broken down important supports at around Rs 733 mark, trading at Rs 726. I have a stop loss on this counter at around Rs 736 mark itself with a target of Rs 715-710 latest by tomorrow. There are two buys. First is Aurobindo Pharma, stop loss of Rs 714, target Rs 726-729. If you have a longer term horizon, say a month or month and a half, I believe that Rs 770 is also possible. It has taken support of the six month support line which is placed at around Rs 700 mark. So we have seen couple of bounces from these levels. The third counter is Ultratech Cement which is again a buy. Stop loss is Rs 3,513 and target Rs 3,600. We are seeing a lot of momentum in the cement counter. ACC, Ambuja, India Cement, Ramco Cement, all are showing good traction. So I believe that Ultratech should also perform from here on.”Disclaimer:
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