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Market check: Top technical calls from Prabhudas Lilladher

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

Vaishali Parekh  |  New Delhi 

Volatility is the new normal for Indian equities

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

CMP: Rs 569.20      
TARGET: Rs 600      
STOP LOSS: Rs 545
 
The stock has made a higher bottom formation like pattern in the daily chart and with the reversal of trend in RSI, the stock looks attractive for an up move to scale further new heights. The volume participation has been a decent one and with favourable indicators supporting, we recommend a in this stock for an upside of 600 keeping a of 545.
  
- BUY     
CMP: Rs 2,309.80      
TARGET: Rs 2,600   
STOP LOSS: Rs 2,150
 
The stock has made a decent correction from the peak of 2,620 to around 2,200 levels and has bottomed out there and now is showing a trend reversal with a positive bullish candle pattern. The RSI indicator has reversed its trend signaling a and recovered from the oversold zone and with good volume activity going on, we recommend a in this stock for an upside of 2,600 keeping a of 2,150.
 
- BUY    
CMP: Rs 277.65       
TARGET: Rs 310      
STOP LOSS: Rs 258
 
The stock has given a good correction to a tune of almost 27% from the peak of 340 to bottom out at around 250 levels and from there on has recovered with a positive bias. With the RSI indicator and MACD on the rise, the stock looks potentially attractive for further rally. We recommend a in this stock for an upside of 310 keeping a of 258.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Wed, July 19 2017. 08:05 IST
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