Buy HUL, Britannia; short BHEL, Reliance Power, Biocon: Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "Hindustan Unilever (HUL) seems to be looking okay. The level of Rs 815 seems to be a very tight stop loss, so if it works out in favour that stop loss is too tight. So, I would have a stop loss below Rs 815 and trade long. Looks like it can go to Rs 840. If the market is up perhaps it should help." "When I look at the entire pack of Larsen and Toubro (L&T) and Siemens, it gives me a feeling that BHEL is a better short. BHEL has broken down with a gap, it continues down, possible target on the downside could be in the vicinity of Rs 122 or even lower if it goes further down to Rs 120. However, I would have a stop loss above Rs 133 and trade short in BHEL," he said. "The move that I saw in Reliance Power from Rs 48 to Rs 52, it was more of reactive upmove. It looks like there could be much more deeper cuts available here. So, very good chance, Reliance Power can slide down to levels closer to Rs 43 zones, I would have a stop loss above Rs 48 and trade short.""The entire pharmaceutical pack is looking weak. Biocon in particular certainly is looking weak. It opened with a gap down, continuing down and its structure is weak. If it continues, it can slide down to levels closer to Rs 454, would have a stop loss above Rs 469 and trade short.""Some of the stocks are looking okay and some looking weak. HPCL is looking weak to me and looks like the way it is trading, it can actually slide down. A strong resistance at level of Rs 770 or so, trade short, maybe you can see levels closer to Rs 750-745 zones; it looks weak to me.""The stock that looks good to me is Britannia Industries. I think Britannia is showing some signs and has given a breakout. So one could have a stop loss below Rs 2,830 and trade long, maybe Rs 2,950 is possible in it."