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Buy Gujarat Pipavav, Exide Industries, GMR Infra, says Prabhudas Lilladher

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

Vaishali Parekh  |  Mumbai 

Volatility is the new normal for Indian equities
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Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
- BUY     

CMP: Rs 149.50      
TARGET: Rs 170     
STOP LOSS: Rs 140
 
The stock has been in a gradual correction phase and after the recent rally has made a higher bottom formation pattern in the daily chart and we anticipate the stock to move strongly in the upward direction further. The RSI also has indicated a trend reversal signaling a buy and with decent volume participation we recommend a buy in this stock for an upside of 170 keeping a of 140.
  
- BUY   
CMP: Rs 19.65     
TARGET: Rs 22.50     
STOP LOSS: Rs 18.20
 
The stock is in a strong uptrend now after taking support at 18 level and is back in momentum with RSI too showing signs of reversal for an up move. The stock has made a higher top higher bottom formation and has also the volume participation is on the rise. We recommend a buy in this stock for an upside of 22.50 keeping a of 18.20. 
 
- BUY    
CMP: Rs 220.50     
TARGET: Rs 250     
STOP LOSS: Rs 204
 
The stock has made a decent correction from 250 level to and has been consolidating around these levels for quite some time. It has also maintained above the 200 DMA level and is gathering potential to rise to new higher levels. With rising volume participation and also RSI recovering from the oversold zone is on the rise. We recommend a buy in this stock for an upside of 250 keeping a of 204.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Mon, July 03 2017. 08:04 IST
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