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.
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.