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Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
GUJARAT PIPAVAV - BUY
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 target of 170 keeping a stop loss of 140.
GMR INFRA - 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 target of 22.50 keeping a stop loss of 18.20.
EXIDE INDUSTRIES - 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 target of 250 keeping a stop loss of 204.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.