Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
TATA GLOBAL BEVERAGES
CMP: Rs 178.75
TARGET: Rs 200
STOP LOSS: Rs 162
The stock after having a small correction has pulled back strongly and the two big positive candles indicate strength and potential to run further upward and scale new targets. The RSI indicator also has given a strong reversal in the trend signaling a buy and with good volume activity visible, we recommend a buy in this stock for an upside target of 198 keeping a stop loss of 160.
ESCORTS - BUY
CMP: Rs 611.55
TARGET: Rs 665
STOP LOSS: Rs 560
The stock has made a lower bottom formation pattern in the daily chart and now it has recovered strongly to make a pullback rally. We anticipate further upward movement in the coming days and with RSI indicator also making a positive trend reversal and with decent volume participation, we recommend a buy in this stock for an upside target of 665 keeping a stop loss of 560.
GLENMARK PHARMA - BUY
CMP: Rs 629.80
TARGET: Rs 685
STOP LOSS: Rs 590
The stock has a steep correction from the levels of 746 to fall down to 592 and now it has bottomed out there to witness a pullback and is on the recovery path. We anticipate this stock perform in the coming days to scale further in the upward direction. The RSI also has indicated a positive signal to rise from the highly oversold zone and with much better volume activity going on, we recommend this stock for an upside target of 685 keeping a stop loss of 590.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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