Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
CMP: Rs 244.40
TARGET: Rs 290
STOP LOSS: Rs 220
The stock has made a decent correction from Rs 328 to Rs 226 and from thereon has made a recovery to move past Rs 240. The RSI has reversed from its oversold zone and is on the rise along with positive MACD. With good volume participation, we anticipate the stock to give a strong upward move and hence we recommend a buy in this stock for an upside target of Rs 290 keeping a stop loss of Rs 220.
CMP: Rs 440.10
TARGET: Rs 480
STOP LOSS: Rs 410
The stock has made a gradual positive recovery after it has made a higher bottom formation at around Rs 390 and is on the run. The RSI has been on the rise so is the MACD indicator. The stock is in a good trending mode and we anticipate it to give a breakout above Rs 455 and scale further new highs. We recommend a buy in this stock for an upside target of Rs 480 keeping a stop loss of Rs 410.
CMP: Rs 291.75
TARGET: Rs 315
STOP LOSS: Rs 278
The stock has been moving in a range-bound zone with around Rs 260 as strong support and Rs 300 on the upper side as resistance. It has picked up momentum after getting support at the cluster of significant moving averages and is anticipated to give a breakout above the Rs 300. With RSI and MACD on the rise and good volume participation also supporting with our favourable indicators, we recommend a buy in this stock for an upside target of Rs 315 keeping a stop loss of Rs 278.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.