Prakash Gaba of prakashgaba.com told CNBC-TV18, "I like Kotak Mahindra Bank among the banking space because yesterday it has given a breakout and looks like it can climb to levels closer to Rs 695, keep stop loss below Rs 577."
"I have been liking Colgate Palmolive for last couple of days and yesterday was a good upmove that we have seen. Looks like it can climb up higher to around may be Rs 1,010 to Rs 1,020 zone. A tight stop loss below Rs 990 should be just fine for the stock," he said.
"I like UPL, basically it looks like a short covering upmove but it has formed a base as well. So, there is very good chance that UPL can climb to levels closer to Rs 429, Rs 430 and Rs 435 zones with stop loss below Rs 410."
"I like the bar of India Cements the way it has generated yesterday. Yesterday's bar is looking good to me and the way it is looking, it can climb to levels closer to around Rs 88 zones. I would have a stop loss below Rs 83 on India Cements and trade long."
"Mahindra & Mahindra (M&M) is looking weak to me and the way it is trading can slide down to levels even closer to Rs 1,190 or so. I can have stop loss around Rs 1,260."
"As far as ICICI Bank is concerned that could be a short as well and I would have a stop loss somewhere below the level somewhere around the zones of Rs 248 or so and possibly continue short. I think it is trading lower, new low is there, so we cannot say how low it can go but looks like it can slide down to levels even closer to Rs 230, so it is weak."
"I like Indraprastha Gas, today’s bar set is doing good. It needs a breakout and the breakout will come out at Rs 495. Looks like we should get a breakout whereas there is a strong support on the stock around Rs 473 zone. So, one must see IGL from a slightly longer-term perspective for a target closer to around Rs 510."
"Let us look at BPCL with stop loss below Rs 900 which should be fine; on the upside the target is closer to around purely from a trading angle at Rs 930-932 zone. I like HPCL very much. Strong support is at Rs 823 zone and looks like the way it is heading, it can even get a breakout at Rs 857 and may go higher to around Rs 880. That is a good possibility but will have to see how it reacts around Rs 850 zones and how it negotiates there is more important."
"I like Indian Oil Corporation with good upmove and there is strong support at levels of Rs 422 zone. That is the place I would have a stop loss on the upside target closer to Rs 434. So, all three oil marketing companies are looking good."
"I like Glenmark Pharma, strong support zone is in the vicinity of Rs 855 or Rs 860 zones. It can climb to levels closer to Rs 900. I also like ONGC, it had good upmove today. I liked the bar the way it is trading and it can climb to levels closer to Rs 224 with stop loss below Rs 218."
"I also like Reliance Industries, good momentum given a breakout at levels closer to Rs 958 and fresh upmove has started. Reliance can climb to a level closer to Rs 995 zone. Even Rs 1,000 is possible, looks like Rs 995 is nice stop loss."
Disclosure: Reliance Industries has acquired management control of Network18, which owns TV18 Broadcast and moneycontrol.com.
"I like Sun TV. The upmove has just started in the stock and it can climb to levels closer to Rs 392 with stop loss below Rs 384."
