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Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
TATA MOTORS - BUY
TARGET: Rs 490
STOP LOSS: Rs 445
The stock has recently made a higher bottom formation in the daily chart and has recovered subsequently and with consolidation phase going on, the stock has the potential to rise from here on to still upwards levels. The RSI indicator is on the rise while also is the MACD signifying strength and with good volume activity witnessed, we recommend a buy in this stock for an upside target of 490 keeping a stop loss of 445.
ADANI PORTS - BUY
CMP: Rs 388.45
TARGET: Rs 425
STOP LOSS: Rs 365
The stock has been on a great run since a very long time and we maintain the bullish trend and anticipate the stock to move still further upward. The RSI indicators has been favourable and is on the rise and with decent volume participation, we recommend a buy in this stock for an upside target of 425 keeping a stop loss of 365
CHAMBAL FERTIZERS - BUY
CMP: Rs 134.85
TARGET: Rs 160
STOP LOSS: Rs 120
The stock has been consolidating around the 130 levels for quite some time and there has been a gradual slide at regular intervals. The candle pattern now created has indicated a bullish bias and with the RSI indicator reversing the trend on the positive side, we anticipate further upward rise in the coming days. We recommend a buy in this stock for an upside target of 160 keeping a stop loss of 120.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.