Buy Tata Communications, Heidelberg and Bajaj Auto: Prabhudas Liladher

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

Tata Communications
 

CMP: Rs 705 

Stoploss: Rs 660 

Target: Rs 740-780

Tata Communications has made double bottom pattern at Rs 640 with a positive diversion on RSI daily chart. The volume is also very high. The stock looks bullish to buy now and in decline for a positional target of Rs 740 and 780.

Heidelberg Cement 
 

CMP: Rs 130 

Stoploss: Rs 120 

Target: Rs 150

Heidelberg, after correcting from Rs 140 to Rs 118, has once again bounced back and now is trading above a cluster of moving averages, ready for next upmove for target of Rs 150 and above.

Bajaj Auto
 

CMP: Rs 2837 

Stoploss: Rs 2760 

Target: Rs 3000

Bajaj Auto, after correcting from Rs 3000, has retraced Rs 2,700. this stock is now showing sign of reversal after sustaing above a cluster of moving averages and favorable indicators. The stock IS looking positive for a bounce back. We recommend a buy in this stock with an upside target of Rs 3000, keeping a stoploss of Rs 2760.

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