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Top technical calls: Buy India Cements, Hindustan Oil Exploration

Nifty view and few trading ideas by Vaishali Parekh of Prabhudas Lilladher

Vaishali Parekh  |  Mumbai 

markets

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

 
technically continues to make lower top on daily chart, however after making a low at 9,700 levels the RSI is showing signs of bounce back, now having the near term resistance level of 9,950. However, the support for the day is seen at 9,840 while resistance is seen at 9,930.
 
- BUY      
CMP: Rs 173.90
TARGET: Rs 192    
STOP LOSS: Rs 165
 
The stock has made a double bottom like pattern in the daily chart taking support at the 200 DMA which is at 169 level. The stock looks attractive with the RSI indicator also showing a trend reversal signaling a buy, thus indicating a positive bias in the stock. We recommend to buy this stock for an upside of 192 levels keeping a of 165.             
 
- BUY    
CMP: Rs 121.55
TARGET: Rs 135   
STOP LOSS: Rs 113
 
The stock has been in a consolidation phase for some time at around 117 levels and now it has produced a bullish candle pattern in the daily chart to indicate strength and potential for further rally. The RSI has indicated a trend reversal with positive bias and potential for further upward move in the coming days. We recommend a buy in the stock for an upside of 135 keeping a of 113
 
- BUY     
CMP: Rs 82.40
TARGET: Rs 89      
STOP LOSS: Rs 80
 
The stock has given a breakout above the 81 level which was the recent peak and also the recent candle pattern indicates strength and potential for further upward movement with a positive bias. The RSI and also the MACD is on the rise and we anticipate the stock to perform in coming days. We recommend the buy for a buy with an upside of 89 keeping a of 80.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

First Published: Thu, August 31 2017. 08:00 IST
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