Business Standard

Buy Indiabulls Housing Finance, HDFC, says Prabhudas Lilladher

Nifty outlook and key trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

Vaishali Parekh  |  New Delhi 

markets, stocks, sensex, nifty, bse, nse
Photo: Shutterstock

outlook and key trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
VIEW:

 
Market is finding it difficult to comfortably move past 10400 levels in and at regular intervals is subjected to profit booking. Bank too moved towards 26000 levels and eventually witnessed profit booking. The support for the day is seen at 10320 while resistance is seen at 10415.
 
BUY INDIABULLS HOUSING FINANCE 
CMP: Rs 1,200.05     
TARGET: Rs 1,335    
STOP LOSS: Rs 1,150
 
The stock has corrected well from the peak of 1373 to bottom out at around 1145 levels and currently has shown a decent reversal and we anticipate a further rise in the price with strength and potential to scale up to the previous peak. The indicators like RSI have shown trend reversal and signaled a buy. With decent volume participation witnessed, we recommend a buy in this stock for an upside of 1335 keeping a of 1150
 
BUY
CMP: Rs 1,725.50    
TARGET: Rs 1,850    
STOP LOSS: Rs 1,670
 
The stock has more or less made a double bottom formation pattern in the daily chart at around 1645 levels and has bounced back with potential to show a positive bias. The RSI has been on the rise and we anticipate a further rally in the stock up to 1800 levels with strength in the coming days. With good volume activity seen, we recommend a buy in this stock for an upside of 1850 keeping a of 1670.
 
BUY
CMP: Rs 41.05    
TARGET: Rs 45    
STOP LOSS: Rs 38.50
 
The stock has been in consolidation phase for quite some time at around 38-39 levels and now it has indicated a breakout above that range and also has given a rise above the significant 200 DMA to signify strength and potential to rise further upward. With the RSI also indicating a steep rise with a trend reversal, it has signaled a buy in this stock. We recommend a buy in this stock for an upside of 45 keeping a of 38.50
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Wed, November 29 2017. 08:16 IST
RECOMMENDED FOR YOU