 "Market Tracker: Three stocks to buy in today's trade")
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
L&T - BUY
CMP: Rs 1,764.45
TARGET: Rs 1,880
STOP LOSS: Rs 1,700
The stock has been in consolidation phase for quite some time and has taken support near the 1700 levels on several occasions and with a bullish candle formation now, the stock looks attractive for a move in the upward direction. The RSI also has turned positive reversing its trend and with decent volume participation, we recommend a buy in this stock for an upside target of 1880 keeping a stop loss of 1700.
RELIANCE INDUSTRIES - BUY
CMP: Rs 1,357.70
TARGET: Rs 1,470
STOP LOSS: Rs 1,300
The stock has taken support at around 1300 levels regularly and has maintained a good base at that level. With the formation of a bullish candle, the stock is anticipated to move towards the previous high of 1470 levels and with RSI reversing its trend on the positive side, we recommend to buy this stock for an upside target of 1470 keeping a stop loss of 1300.
ENGINEERS INDIA – BUY
CMP: Rs 156.20
TARGET: Rs 174
STOP LOSS: Rs 145
The stock has made a lower bottom formation pattern in the daily chart and has given a bullish candle formation now. The RSI indicators from its oversold zone has reversed its trend signaling a buy and we anticipate the stock to move upward towards its previous peak level of 174. We recommend a buy in this stock for an upside target of 174 keeping a stop loss of 145.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
L&T - BUY
CMP: Rs 1,764.45
TARGET: Rs 1,880
STOP LOSS: Rs 1,700
Also Read
The stock has been in consolidation phase for quite some time and has taken support near the 1700 levels on several occasions and with a bullish candle formation now, the stock looks attractive for a move in the upward direction. The RSI also has turned positive reversing its trend and with decent volume participation, we recommend a buy in this stock for an upside target of 1880 keeping a stop loss of 1700.
RELIANCE INDUSTRIES - BUY
CMP: Rs 1,357.70
TARGET: Rs 1,470
STOP LOSS: Rs 1,300
The stock has taken support at around 1300 levels regularly and has maintained a good base at that level. With the formation of a bullish candle, the stock is anticipated to move towards the previous high of 1470 levels and with RSI reversing its trend on the positive side, we recommend to buy this stock for an upside target of 1470 keeping a stop loss of 1300.
ENGINEERS INDIA – BUY
CMP: Rs 156.20
TARGET: Rs 174
STOP LOSS: Rs 145
The stock has made a lower bottom formation pattern in the daily chart and has given a bullish candle formation now. The RSI indicators from its oversold zone has reversed its trend signaling a buy and we anticipate the stock to move upward towards its previous peak level of 174. We recommend a buy in this stock for an upside target of 174 keeping a stop loss of 145.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%