Stock picks by Vaishali Parekh of Prabhudas Lilladher: Buy HDFC AMC, ABB

The stock of ABB has made a higher bottom formation pattern taking support near 776 levels and has picked up with momentum to improve the bias

BUY ABB LTD  | CMP: Rs 813 | Target: Rs 900-920 | Stop Loss: Rs 760

The stock has made a higher bottom formation pattern taking support near 776 levels and has picked up with momentum to improve the bias. The RSI is also indicating a trend reversal and is on the rise to anticipate further upward movement in the coming days. We suggest to buy and accumulate the stock for an upside positional target of Rs 900-920, keeping the stop loss near Rs 760.

BUY HDFC AMC | CMP: Rs 2,444 | Target: Rs 3,000 | Stop Loss: Rs 2,300

The stock has maintained a good base near 2380 levels and has shown signs of improvement. The RSI, too, is indicating a trend reversal and is on the rise to anticipate further upward movement in the coming days. With the chart looking attractive, we suggest to buy and accumulate the stock for an upside positional target of Rs 3,000, keeping the stop loss near Rs 2,300.

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Disclaimer: The analyst may have positions in one or more stocks. Views expressed are personal.