 "Buy TCS, Beger Paints, Cadila Healthcare, says Prabhudas Lilladher")
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
NIFTY VIEW:
The day began with a negative sense with Nifty making a low of 10,075 and immediately bounced back to confirm a double bottom formation at 10,080 levels and bounced back to 10,400 levels. The support for the day is seen at 10,330 while resistance is seen at 10,430.
BUY TCS
CMP: Rs 2580.50
STOPLOSS: Rs 2400
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TARGET: Rs 2800
The stock has corrected from Rs 2777.40 levels in the recent past days and has maintained near its 200-DMA which is around Rs 2494. The positive candle pattern has indicated a Buy and we anticipate the stock to move up further till Rs 2800 levels. We recommend a buy in this stock keeping a stop loss of Rs 2400 and a target of Rs 2800.
BUY CADILA HEALTHCARE
CMP: Rs 417.15
STOPLOSS: Rs 400
TARGET: Rs 450
The stock has made a bottom at around Rs 400 and has made a good recovery. With RSI on the rise, the stock looks promising for un upside target of around Rs 450. We recommend a buy in this stock keeping a stop loss of Rs 400.
BUY BERGER PAINTS
CMP: Rs 252.55
STOPLOSS: Rs 240
TARGET: Rs 265
The stock has been consolidating for a while hovering around the range of Rs 245-255 levels and has maintained a good support at around Rs 240. The stock has been in a trending upward move in the daily chart and while the RSI indicator has reversed its trend signaling a positive outlook, we recommend a buy in this stock for an upside target of Rs 265 keeping a stop loss of Rs 240.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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