In CNBC-TV18's popular show Bull's Eye, AK Prabhakar, independent advisor shares his trading strategies for the day.
Mahindra & Mahindra Financial Services made an inverse head and shoulder pattern for which a breakout has been given on Monday. Now on continuation basis the stock is likely to give 8-10 percent upside in the next few days. So, Mahindra & Mahindra Financial is an excellent buy on technical parameter and fundamentally also with monsoon improving, non banking financial companies (NBFCs) can do well.
In Praj Industries, after a corrective pattern a fresh upmove is starting. Praj Industries' result also can start to be very good from the coming quarter. The stock is a medium to long-term buy.
Public sector undertaking (PSU) banks after panic selloff in the last few weeks have seen some buying and it is based on some short covering also. Therefore, Union Bank of India is best of the PSU lot and a smart move is expected in the stock.
Sintex Industries has corrected from almost Rs 100. Now the corrective move is over. A fresh upmove is on the cards where Rs 86 and Rs 98 can be the target in the stock.
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