Avoid Motherson Sumi; PFC, Syndicate Bank look weak: Prakash Gaba

Name: Avoid Motherson Sumi; PFC, Syndicate Bank look weak: Prakash Gaba
Uploaded: 2017-05-19T15:35:39+05:30
Description: Prakash Gaba of prakashgaba.com is of the view that one may avoid Motherson Sumi while Power Finance Corporation and Syndicate Bank look weak.

Prakash Gaba of prakashgaba.com is of the view that one may avoid Motherson Sumi while Power Finance Corporation and Syndicate Bank look weak.

May 19, 2017 / 16:16 IST

Prakash Gaba of prakashgaba.com told CNBC-TV18, "I would say Motherson Sumi certainly is looking okay. As long as the levels of around Rs 400 holds, looks like upside in Motherson Sumi is still on. I don’t think I would buy. There are two places to buy, either we see some strength or the weakness. It needs to cross Rs 420 mark to say that it can go up. So I will avoid Motherson Sumi."

"Power Finance Corporation looks weak to me and the way it is trading, looks like it can slide down to levels closer to Rs 150 zones and further than that possibly even Rs 145 in the days to come," he said.

"Syndicate Bank is another stock that looks weak. It has actually broken down. I have a next target around Rs 82 zones, keep stop loss above Rs 88."

first published: May 19, 2017 03:35 pm

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