The latest analysis and commentary by stock market guru Rajat Bose on what is moving the markets today. Check out his top stock recommendations.

He spoke at length about DHFL, State Bank of India, Hexaware, Jubilant FoodWorks, Bajaj Finserv, and LIC Housing Finance.

Speaking about individual stocks, Bose said, “Bajaj Finserv, my stop loss is above Rs 6,130, Rs 5,965 to about Rs 5,950 is the target. LIC Housing Finance has started cracking and chances are it will go further down stop loss would be above Rs 432 sell it with the target of Rs 427 first and then Rs 421. Finally Jubilant FoodWorks is a buy. Rs 1,234.80 is my stop loss Rs 1,283 and Rs 1,298 are the two targets."

He also added, "DHFL when I gave the short call, it was Rs 151 and right from yesterday I have been mentioning this target level of Rs 142. Rs 142-140 is a major support area. So I kept a target of Rs 142.10 and Rs 145. The first target could be met just right now or something. However, the point I would like to mention is that I am expecting some kind of bounce back from Rs 140-142 kind of support area. However, this will just be a pullback bounce. If DHFL were to decisively break Rs 142-140 support area, then it could lead to a much sharper decline even from here. People would actually snowball into panic and then stocks that are weak in this segment that is Indiabulls Housing and other stocks might well fall and even I did not like the body language of LIC Housing person. So chances are that stock would also come in for some kind of selling. So housing finance stocks are in a weak territory and it can still go down. However, I am still betting on Rs 140-142 kind of range being met today. State Bank of India (SBI) is a buy. It is a pullback or whatever you call it, Rs 297 to about Rs 299.90 is the target range for the day and put a stop loss below Rs 287. Hexaware, IT stock today it could act as a saviour. Rs 322 is my stop loss, Rs 331, Rs 335 -- if Rs 335 is taken out, then Rs 337.50, Rs 338 could be reached.”

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First Published:Jan 31, 2019 10:33 AM IST