 "Market check: Top three stocks to buy in today's trade")
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
ASHOK LEYLAND - BUY
CMP: Rs 105.15
TARGET: Rs 120
STOP LOSS: Rs 96
The stock has given a breakout above the 97 level and is in a rising trend and we anticipate the stock to move still further up to 120 - 130 levels. The MACD indicator is on the rise and volume participation is tremendous in the past 4-5 days. We recommend to buy this stock for an upside target of 120 keeping a stop loss of 96.
TCS - BUY
The stock has been consolidating for quite some time at around 1,680 levels and now has shown some momentum pick up in the daily chart. The RSI indicator has made a positive trend reversal some days back and is on the rise with good volume participation. We anticipate the stock to rise further and hence we recommend to buy the stock for an upside target of 1,850 keeping a stop loss of 1,670.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
ASHOK LEYLAND - BUY
CMP: Rs 105.15
TARGET: Rs 120
STOP LOSS: Rs 96
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The stock has given a breakout above the 97 level and is in a rising trend and we anticipate the stock to move still further up to 120 - 130 levels. The MACD indicator is on the rise and volume participation is tremendous in the past 4-5 days. We recommend to buy this stock for an upside target of 120 keeping a stop loss of 96.
TCS - BUY
CMP: Rs 2,434.95
TARGET: Rs 2,600
STOP LOSS: Rs 2,350
The stock has given a decent correction from the levels of 2,708 to consolidate at around 2,340 levels and now has given a bullish candle in the daily chart. The RSI has given a good bounce from the oversold zone and also indicated a trend reversal to signal a buy. With the MACD also showing positive bias, we recommend a buy in this stock for an upside target of 2,600 keeping a stop loss of 2,350.
LARSEN & TOUBRO - BUY
CMP: Rs 1,732.15
TARGET: Rs 1,850
STOP LOSS: Rs 1,670
TARGET: Rs 2,600
STOP LOSS: Rs 2,350
The stock has given a decent correction from the levels of 2,708 to consolidate at around 2,340 levels and now has given a bullish candle in the daily chart. The RSI has given a good bounce from the oversold zone and also indicated a trend reversal to signal a buy. With the MACD also showing positive bias, we recommend a buy in this stock for an upside target of 2,600 keeping a stop loss of 2,350.
LARSEN & TOUBRO - BUY
CMP: Rs 1,732.15
TARGET: Rs 1,850
STOP LOSS: Rs 1,670
The stock has been consolidating for quite some time at around 1,680 levels and now has shown some momentum pick up in the daily chart. The RSI indicator has made a positive trend reversal some days back and is on the rise with good volume participation. We anticipate the stock to rise further and hence we recommend to buy the stock for an upside target of 1,850 keeping a stop loss of 1,670.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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