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Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
GOKALDAS EXPORTS - BUY
TARGET: Rs 115
STOP LOSS: Rs 90
The stock has been moving in a range bound zone between 92 and 75 levels and now it has given a breakout closing above the peak of 92 level. The stock has gathered tremendous momentum with high volume participation and also with the RSI on the rise and MACD signaling a positive trend reversal, we recommend a buy in this stock for an upside target of 115 keeping a stop loss of 90.
HCL INFOSYSTEMS - BUY
CMP: Rs 48.10
TARGET: Rs 55
STOP LOSS: Rs 44.50
The stock has given a decent correction from the high level of 61 to bottom out at 44 and is on a recovery path with good volume participation. The stock has made a hockey stick like pattern in the daily chart and with RSI on the rise and MACD also in the positive mode, we recommend a buy in the stock for an upside target of 55 keeping a stop loss of 44.50.
OBEROI REALTY - BUY
CMP: Rs 382.35
TARGET: Rs 418
STOP LOSS: Rs 360
The stock has corrected recently from 416 levels to take support at the 200 DMA level which was at around 335 levels and from thereon has given a pullback rally to recover significantly. We anticipate the stock to rise still further and scale the previous peak level of around 418 and with rising RSI and MACD indicating a positive trend reversal, we recommend a buy in this stock for an upside target of 418 keeping a stop loss of 360.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.