Market tracker: Three stocks to buy in today's trade
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher
 "Market tracker: Three stocks to buy in today's trade")
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Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
KOTAK MAHINDRA BANK - BUY
CMP: Rs 958.80
TARGET: Rs 1,020
STOP LOSS: Rs 935
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The stock after a decent rally has given a small correction and has now made a higher bottom formation pattern and is on the way to make a good recovery. The RSI indicator has made a positive trend reversal also signaling a buy and with good volume participation, we recommend a buy in this stock for an upside target of 1020 keeping a stop loss of 935.
RASHTRIYA CHEMICALS & FERTILIZERS - BUY
CMP: Rs 76.70
TARGET: Rs 87
STOP LOSS: Rs 73.50
The stock has made a double bottom formation in the daily chart and is now regaining for an up move to retrace to its previous high levels. The RSI indicator also has hit the oversold zone and has made a positive trend reversal to signal a buy and with volume activity on the rise, we recommend this stock for a buy for an upside target of 87 keeping a stop loss of 73.50
SHRIRAM TRANSPORT FINANCE - BUY
CMP: Rs 1,045.80
TARGET: Rs 1,100
STOP LOSS: Rs 990
The stock is gradually making a higher bottom formation pattern and is now sustaining above the 200 DMA level. With the RSI indicator in rising mode the stock is poised for an up move to scale new higher targets. It has been also maintaining above the cluster of significant moving averages and thus we recommend a buy in this stock for an upside target of 1100 keeping a stop loss of 990.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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