Go long in Bosch, Tata Steel; L&T looks weak: Prakash Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "Structurally Power Grid is a weak stock. We have seen levels from Rs 120 to Rs 140 zone. This upmove looks reactive in nature. It basically has gone up to come down, so there is a good chance that Power Grid could slide down to levels closer to Rs 120. However, around Rs 120 we could find supports. If someone is to buy for medium-term perspective then wait, wait until Rs 120 zone, look for a buy signal there. Until that happens it looks weak to me.""Bosch had given some kind of a sign that short covering has come in. It looks like it is holding out. The stock perhaps can climb to levels closer to Rs 19,000 zone. I would have a stop loss below Rs 18,530 and trade long in this," he said."Hindustan Unilever (HUL) is one of the stocks that is giving some kind of weight to bounce to the Sensex today though Sensex is down but it looks HUL is holding out. The stock can climb to levels closer to around Rs 834 with a stop loss below Rs 816. It will take a day or two but once short covering comes in, HUL will bounce back.""Hindalco Industries is a stock I like because structurally near the lows it seen a good bounce. Last three trading sessions looks okay including today. It looks like Hindalco can climb to levels closer to Rs 79 with stop loss below Rs 76.""Mahindra and Mahindra is pulling down the Sensex and the Nifty. It looks like the stock could slide down to levels closer to Rs 1,260, actually it is a no trade zone but it looks weak structurally from the levels of Rs 1,400. So looks like it can slide down to Rs 1,260 with a stop loss above Rs 1,295," he added. "Tata Steel can climb to levels closer to Rs 245 where some kind of profit booking could come in and some kind of selling pressure could come in. Have a stop loss below the levels of Rs 236 and trade long on Tata Steel.""Larsen and Toubro (L&T) was looking weak to me. I feel that the stock can slide down to levels closer to Rs 1,250 or even lower. I would have a stop loss above Rs 1,310 on L&T and trade short. ITC certainly is looking weak to me, the way it is trading, can slide down to levels closer to Rs 310 or even lower to around Rs 300 zone. It may take a day or two for that but looks like it is heading down, stop loss above Rs 320 should be fine on ITC."