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Buy Bajaj Auto, HCL Infosystems and Dhanlakshmi Bank: Prabhudas Lilladher

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher

Vaishali Parekh  |  Mumbai 

Stock markets
Stock markets

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
- BUY   

CMP: Rs 2,792.75      
TARGET: Rs 3,000    
STOP LOSS: Rs 2,680
The stock has made a lower bottom formation pattern in the daily chart and now has given a bullish candle with good volume participation. The RSI indicator recovering from the oversold zone has made a positive trend reversal signaling a The stock for some time has been in a gradual correction mode and now has reversed its trend and we anticipate it to move upward to scale the previous peak level of around 3000. We recommend a in this stock for an upside of 3000 keeping  a of 2680.

- BUY   
CMP: Rs 42.25    
TARGET: Rs 45.50     
The stock has given a breakout above the previous peak of around 41.60 with a tremendous volume participation and is still showing potential for further upward move. The RSI has indicated a trend reversal with a positive bias while also the MACD is on the rise turning its trend positive. The stock looks attractive for scaling new upper targets and we recommend this stock for a for an upside of 45.50 keeping a of 40.
- BUY   
CMP: Rs 49.35    
TARGET: Rs 56    
STOP LOSS:  Rs 46.50
The stock has given a decent correction from the high levels of 60 to bottom out at around 44 level and now is in recovery path with decent volume participation. The RSI as well as MACD indicator is on the rise and is gathering potential for further upside move. We recommend to this stock for an upside of 56 keeping a of 46.50.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Wed, July 12 2017. 08:11 IST