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Few Trading Ideas By Vaishali Parekh, Research Analyst - Technical Research At Prabhudas Lilladher:
RURAL ELECTRIFICATION CORPORATION - BUY
TARGET: Rs 220
STOP LOSS: Rs 178
The stock has been consolidating at around 188 levels for some time maintaining a strong base and now it has moved making a bullish candle pattern to come out of the consolidation phase. The RSI indicator has reversed its trend to turn positive and signaling a buy. Along with good volume participation, we recommend a buy in this stock for an upside target of 220 keeping a stop loss of 178
POWER FINANCE CORPORATION – BUY
CMP: Rs 131.70
TARGET: Rs 150
STOP LOSS: Rs 120
The stock has made a decent correction from 168 to 124 levels and from there on it has made a hockey stick like pattern formation in the daily chart indicating a pull back recovery along with rising RSI indicator. We anticipate further upward move and expect some more buoyancy to take the stock to 150 and above levels. We recommend a buy in this stock for an upside target of 150 keeping a stop loss of 120.
APTECH - BUY
CMP: Rs 210
TARGET: Rs 245
STOP LOSS: Rs 188
The stock after making a bottom at around 183 levels twice has been in a recovery mode and has maintained above the 200 DMA in the daily chart. With decent volume participation and RSI indicator on the rise, we anticipate the stock to move further upward towards it previous peak level of around 245. We recommend a buy in this stock for an upside target of 245 keeping a stop loss of 188.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.