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Here are three stock recommendations from Prabhudas Lilladher:
SREI INFRA - BUY
TARGET: Rs 126
STOP LOSS: Rs 103
The stock has made a higher bottom formation and thereafter, gradually has been moving positively and on the verge of giving a breakout above the previous peak of 116 levels. With the RSI indicator on the rise and decent volume participation, we anticipate the stock to reach the level of 126. We recommend a buy in this stock keeping a stop loss of 103 and target of 126.
NIIT - BUY
CMP: Rs 87.30
TARGET: Rs 95
STOP LOSS: Rs 85
The stock has been consolidating for a while at around 86 -87 levels and with the RSI giving a steep rise, we anticipate some upward momentum in the coming days. With decent volume participation, we recommend a buy in this stock for an upside target of 95 keeping a stop loss of 85.
CHAMBAL FERTILIZERS - BUY
CMP: Rs 128.25
TARGET: Rs 140
STOP LOSS: Rs 120
The stock has given a breakout to move above the consolidation phase of around 126 levels and with the RSI indicator reversing its trend to signal a buy, we anticipate the stock to move further to around 140 level. Along with good volume activity, we recommend a buy in this stock for an upside target of 140 keeping a stop loss of 120.
The author is Research Analyst - Technical Research at Prabhudas Lilladher
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.