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Last Updated : Mar 22, 2016 10:42 AM IST | Source: CNBC-TV18

Buy Ashok Leyland, L&T, HUL, Kotak Mahindra Bank: Prakash Gaba

According to Prakash Gaba of prakashgaba.com, one can buy Ashok Leyland, Larsen & Toubro, Hindustan Unilever and Kotak Mahindra Bank.


Prakash Gaba of prakashgaba.com told CNBC-TV18, "I like Ashok Leyland because of two reasons, it is into a blue sky territory and a stock goes into blue sky territory why put a selling into it. So, just keep climbing higher, only thing is where do you buy. Buy anywhere you want to, as long as you have a deeper stop loss. The first technical target that I have on Ashok Leyland is Rs 110, I think it is going much higher than that. It has gone into three digits from two digits; that is the second reason for buying into it."

"Among the capital goods space I just chose Larsen & Toubro. It is certainly looking good to me. The stock has seen a good upmove and a sideways consolidation and yesterday it has given a breakout. So, a very good chance that L&T is climbing to levels closer to Rs 1,260, I would have a stop loss below Rs 1,208 and trade long; certainly it looks good in the entire space," he said.

"I had been stocking Hindustan Unilever (HUL) for a while and yesterday it gave a breakout. The target that I have is quite aggressive; purely from a trading angle it is Rs 900 but I think it is going towards Rs 925. You need to give some time and space because it has given a massive breakout. It might get dips though dips would be buying opportunities until Rs 860. So, HUL certainly is looking good from the FMCG space."

"Among the banking stocks, I had a choice between HDFC, ICICI Bank and Federal Bank. I chose Kotak Mahindra Bank. The stock certainly is looking good to me and I like the upmove that we have seen yestreday in the last two hours or so. So, I would have a stop loss somewhere below the levels of Rs 656 on Kotak and trade long. On the upside we could see target closer to Rs 675-680 also."

"Cummins India looks okay. Possible target on the upside could be in the vicinity of Rs 871 and stop loss below Rs 849." 

"The second stock I like is from the auto pack is Mahindra and Mahindra (M&M). Looks like it can inch forward from here. Put targets closer to Rs 1,255 and stop loss is Rs 1,222."

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First Published on Mar 22, 2016 09:57 am
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