Prakash Gaba of prakashgaba.com, has identified two standout stock selections for today: Hero Motocorp and Godrej Industries.

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Gaba's first pick of the day is Hero Motocorp, one of India's leading two-wheeler manufacturers. "I like the way it has formed a base," he remarked. The stock seems to have found solid footing within the Rs 2,950-2,960 price range, creating a robust support zone for traders to work with.

Currently trading at Rs 3,000, Gaba predicts that Hero Motocorp is poised to make substantial gains. "It is going to Rs 3,100; it's just a matter of time," he confidently stated. To protect against potential downside risks, Gaba recommends setting a stop loss just below Rs 2,980 for the stock.

Hero Motocorp has experienced a modest dip of more than 1.80 percent in the past month.

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Gaba's second stock recommendation for the day is Godrej Industries, a diversified conglomerate with a strong presence in various sectors, including agriculture, chemicals, and consumer products. At its current trading price of Rs 564, Godrej Industries has caught Gaba's attention for all the right reasons.

From a structural standpoint, Gaba believes that Godrej Industries exhibits a promising setup. "It structurally looks good to me," he affirmed. The stock boasts a robust support level at Rs 558, offering investors a safety net in volatile market conditions.

Gaba's prediction for Godrej Industries is equally bullish. He anticipates that the stock will reach around Rs 600 in the days to come, presenting an attractive opportunity for potential gains. Shares of Godrej Industries are up more than 16 percent in the last month.

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First Published:Sept 8, 2023 1:42 PM IST