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May 19, 2017 03:54 PM IST | Source: CNBC-TV18

Hold State Bank of India, buy Tata Power around Rs 80: Prakash Gaba

Prakash Gaba of prakashgaba.com suggests holding SBI while he advises buying Tata Power around Rs 80.

Prakash Gaba of prakashgaba.com told CNBC-TV18, "Hold on to State Bank of India (SBI). Structurally it looks okay to me. Upside is still on. We can see moves to Rs 325 zones. Once it crosses Rs 325, who knows how high it can go. So far it looks good to me; continue holding it and have a stop loss below Rs 300 and trade long."

"Tata Power is basically into some correction and the correction could last a bit longer. If that happens, we could see the levels even closer to Rs 80. Now Rs 80 is a very strong technical support, so, if someone has to buy for long-term, Rs 80 would be a place to buy. The level of Rs 80 and Rs 84 is the zone we can buy. If you are looking at long-term, nothing to worry, 5-10 percent does not matter, but Rs 80 seems to be a strong support zone to work with; Rs 75 as stop loss should be fine," he added.

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