Buy Adani Enterprises, MCX and Asian Paints, says Prabhudas Liladher

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

BUY ADANI ENTERPRISES

CMP: Rs 132.25      

TARGET: Rs 155     

STOP LOSS: Rs 119

The stock has been consolidating around the levels of Rs 114-120 and now has given a pullback. We anticipate it to move further until it previous peak level of around Rs 155 breaks. The RSI is on the rise and the MACD indicator is also on the positive mode. With decent volume participation in recent days, we recommend a buy in this stock for an upside target of Rs 155 keeping a stop loss of Rs 119.

  

BUY MCX  

CMP: Rs 1052.40       

TARGET: Rs 1150     

STOP LOSS: Rs 1000

The stock has corrected from Rs 1250 to Rs 930, which was the previous bottom made during the September month last year and from thereon it has picked up momentum to reach Rs 1050. The RSI is also on the rise and is gaining strength. We anticipate the stock to move further upward. We recommend a buy in this stock for an upside target of Rs 1150 keeping a stop loss of Rs 1000.

BUY ASIAN PAINTS      

CMP: Rs 1155.75     

TARGET: Rs 1230     

STOP LOSS: Rs 1120

The stock has been in a trending mode and had a great run since December 2016 with small correction at regular intervals. The stock is poised to reach its previous peak made at around Rs 1230 and with good volume participation and favourable indicators, we recommend a buy in this stock for an upside target of Rs 1230 keeping a stop loss of Rs 1120.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.