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Buy Balrampur Chini, Cords Cable and DLF, says Vaishali Parekh

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

Vaishali Parekh  |  Mumbai 

Market, Nifty, Sensex
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Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:


CMP: Rs 150.20      
TARGET: Rs 168      
STOP LOSS: Rs 140

The stock has witnessed a correction from Rs 168 to bottom out at around Rs 143 where a double bottom formation pattern has been made and is now indicating a positive bullish candle formation. The RSI has made a recovery from the oversold zone and is on the rise making the stock potential for further buoyancy. We recommend a buy in this stock for an upside target of Rs 168 keeping a stop loss of Rs 140.
  
BUY CORDS CABLE     

CMP: Rs 109.45     
TARGET: Rs 128    
STOP LOSS: Rs 100

The stock has been on a good run right from Rs 83 and now it has given a closing breakout above Rs 108 with increasing volume participation in recent days. With the RSI being strong and on the rise, we anticipate a strong upward move still further to around Rs 128. We recommend a buy in this stock keeping a stop loss of Rs 100.

BUY  DLF    

CMP: Rs 197.15     
TARGET: Rs 218    
STOP LOSS: Rs 183

The stock after making a higher bottom formation has given a good move on the upside and the volume-wise participation has been tremendous in recent days. We anticipate the stock to continue its positive move still further to give a breakout above Rs 215 and then to scale the new target of around Rs 218-220. We recommend  to buy this stock keeping a stop loss of Rs 183.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Thu, June 22 2017. 08:26 IST
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