Prakash Gaba on March 15: Buy Tata Consultancy Services (TCS), Infosys

The latest analysis and commentary by stock market guru Prakash Gaba on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about ITC, NBCC (India), United Spirits Ltd (USL), Jet Airways, Hero MotoCorp, HDFC Bank, Kotak Mahindra Bank, LIC Housing Finance, Reliance Industries, Ambuja Cement, UPL, Chalet Hotels, Bajaj Finance, Maruti Suzuki, Yes Bank, Tata Consultancy Services (TCS), and Infosys.

“I have two stocks both on the long side. I have seen in Infosys. It is certainly looking good to me. Looks like a bottom is in place. Place fir buying is just now. Buy for couple of days. Technical targets that I have is Rs 725 stop below Rs 705. Tata Consultancy Services (TCS) also is looking good to me, shown some signs of strength. TCS is running, look like it is heading to levels closer to Rs 2,050 stop loss below Rs 2,010 should be okay.”

“Bajaj Finance is looking good to me. I think it is heading to levels closer to Rs 2,900. To me Rs 3,000 is the target. It may take its own sweet time but Rs 3,000 is the target. For trading purposes, Rs 2,900 should be fine. Stop below Rs 2,800. I also like Maruti Suzuki. It has formed a good base formation closer to around Rs 7,030 zones. I would have a stop just below that and trade long. The first technical targets would be Rs 7,200. It is not stopping there, it may be going beyond that,” he added.

“I will go with ITC. It looks certainly good to me. I think ITC can climb to levels closer to Rs 300, but it is not stopping there on Rs 300. It may go even higher. Stop below Rs 295 should be okay. We must give few days to ITC; I think it has done a beautiful top there. I like NBCC as well. I think good base formation, give some time and space, I think the first target that I have is Rs 70 and it is going beyond Rs 75 as well. Stop below Rs 62 should be okay. United Spirits, I think party has just started. I think it is going to Rs 600 zones as the point. However, when I look at United Spirits chart from a long term perspective, I think it is bottomed out. We are seeing levels closer to Rs 650-675 also on that. So I think it is a buy on dips stocks. Stop below Rs 573 purely for trading purposes. A solitary sell on Jet Airways. Now doing well, 737 Max perhaps could have an effect on it. Possible target on the downside could be Rs 225, stop above Rs 238,” Gaba said.

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