Go long in IDBI Bank, ONGC may test Rs 580: Prakash Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "I certainly like Jet Airways because it has formed a good bas and  kind of a consolidation. I also expect there could be some kind of a breakout because the indicators tell me that it is going up. So, possible target on the upside is around Rs 580, stop loss below Rs 552." "As far as Oil and Natural Gas Corporation (ONGC) is concerned, the move that we have seen from levels of Rs 190 to Rs 220 zones is more of a reactive upmove. It basically means it has gone up but has gone up to come down. So, what we have seen is a loss of momentum in ONGC and also a breakdown. It looks like ONGC could slide down to levels of Rs 205 zones. That is the first target that I have. Possibly more is on the cards, but I would be happy with Rs 205, stop loss above Rs 211 on ONGC on the short side should be fine," he said."I picked up IDBI Bank because I think the PSU basket in the banks are looking good to me. In last couple of days, IDBI certainly is looking good to me. It is an enhanced upmove out here. I would have a stop loss somewhere below Rs 71 or so, trade long on IDBI Bank, possible target on the upside could be in the vicinity of Rs 76.""I also like Indiabulls Real Estate purely from an angle that it has gone up and consolidated for a month or so. Again a fresh upmove has started in the stock. The entire realty basket is looking good. Possible target on the upside on Indiabulls is around Rs 60, stop loss below Rs 56 should be fine."