SAIL may test Rs 47.50, Infosys Rs 1240: Prakash Gaba

Prakash Gaba of prakashgaba.com told CNBC-TV18, "I love the structure of SAIL, basically the way it has gone up with good two weeks of consolidation, a fresh breakout has come in the stock. The first technical target that I have is Rs 47.50 but it is going towards Rs 50 zone, may take a few days for that. I would have a stop loss somewhere below levels of Rs 43 and trade long." "It could be a very good reason for buying Infosys because when you have a stock at a new high closer to that, we say that once it goes to blue sky territory there is no stopping back, why put a ceiling on it. Structurally, it looks good to me and I think it is inching forward more of a step formation and could climb to levels of closure to Rs 1,240, that is the place I am having my first target with stop loss below Rs 1,190. The entire technology pack is looking good, so I just happened to choose Infosys today," he said."Bajaj Finance can continue going up higher. Target that I have in the near term is around Rs 7,200. The only thing is where do you put a stop loss, purely from a trading angle one needs to put a stop loss and I would say that Rs 6,700 should be okay. This stock is a buy and hold, it may see higher levels in the days to come." "I like UPL because I like the structure, the indication formation is good and looks like more of an inching forward move. It is trading at very strong support of around Rs 448. I would have a stop loss below that. On the upside the target is in the vicinity of the Rs 465 which is only purely for trade of a day or two. However, I have an aggressive target on UPL, looks certainly good to me from a few days perceptive as well.""Idea Cellular could be looking for a breakout. It has a very good chance that it could have a breakout from here and good place to buy would be once it starts to trade above Rs 106 then perhaps we could see levels close to Rs 109-110 as well. So, Idea Cellular is one stock that one can look at." "Wipro, so far is still looking okay and as long as level of around Rs 555 holds there is a good chance it can climb higher to may be around Rs 566."