Stocks to watch: Sakthi Sugars,PNB and Hindalco

Excerpts from Closing Bell on CNBC-TV18 Watch the full show »

The market closed lower. Selling was seen in oil, banking, auto, FMCG and technology stocks. The Sensex closed down 76.60 points at 9237.53. The Nifty also closed down 19.90 points at 2809.20.

Of the stocks trading in the market, technical analyst Prakash Gaba sounds positive about Sakthi Sugars, Ugar Sugar Works, PNB, Hindalco and Gujarat Ambuja.

This is how Prakash Gaba views different stocks across the board:

On Wipro:

Wipro has a very strong support at Rs 450 levels.

On Satyam Computers:

Satyam Computers Services has a strong support at Rs 700.

On Infosys Technologies:

Infosys  has got very strong support at Rs 2670.

On TCS:

TCS  has got little support around Rs 1575 level.

 

 

On HCL Technologies:

HCL Technologies was looking good a few days back. I do not know whether it will go up. But Rs 660 was the target for it.

On ONGC:

If I have to buy ONGC ,  I will look at it around Rs 1165-Rs 1100 levels. There is slight weakness in ONGC. It's not a trading stock.

On Sakthi Sugars:

Sakthi Sugars is doing well. Rs 175-Rs 180 is on the cards.

On Ugar Sugar Works:

Ugar Sugar Works  is a stock that should go to around Rs 60-Rs 70. It is a good stock.

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On VSNL:

Rs 350 was a very strong support for VSNL . If it can retain this bounce, it has a potential to bounce from here again. But Rs 350 is very crutial support. 

On India Cements:

India Cements had a target of Rs 125-Rs 135. I would look at it around Rs 100 as a strong psychological support. The entire cement pack is looking good. So India Cement should survive around Rs 100 levels or so.

On Punjab National Bank:

Punjab National Bank seems good. Perhaps, it has a very strong support at Rs 450 levels.

On Hindalco Industries:

For Hindalco Industries , Rs 145 was a very strong support. It is looking good.

On Gujarat Ambuja Cements:

Gujarat Ambuja Cements is looking good. Rs 85-86 could be very strong support.  It should see Rs 95-100 levels coming in over a period of time.

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On Nalco:

Nalco has a strong support at Rs 229.

On Ranbaxy Laboratories:

Rs 370 is a very strong support for Ranbaxy Laboratories . I do not think it is going below that. If it comes around Rs 370 levels, good buying should come in. It is coming down to go up.

On Dr Reddys Laboratories:

Psychologically, Rs 1000 was a very strong support for Dr Reddys Laboratories . Below that, even if it does crack Rs 1000, Rs 985 will be a strong support. It's looking strong.