Stock recommendations by Vaishali Parekh: Buy HDFC Bank, Tata Elxsi

The stock of HDFC Bank has moved past the barrier of 1,050 levels and has come into a new territory with positive bias

BUY HDFC BANK | CMP: Rs 1,056.45 | TARGET: Rs 1,150-1,180 | STOP LOSS: Rs 1,000

The stock has moved past the barrier of 1,050 levels and has come into a new territory with positive bias. The RSI indicator has been going strong with steady rise to signify a strong trend. With the chart looking attractive, we suggest to buy and accumulate this stock for an upside target of Rs 1,150-1,180 in the coming days, keeping the stop loss of Rs 1,000.

BUY TATA ELXSI | CMP: Rs 901 | TARGET: Rs 1,000-1,020 | STOP LOSS: Rs 865

The stock has been consolidating for quite some time at near Rs 860-870 levels and currently has given a spurt to break above the resistance zone.We anticipate further upside movement in the coming days. The RSI indicator also has shown a trend reversal to signal a buy. We suggest to buy and accumulate this stock for an upside target of Rs 1,000-1,020, keeping the stop loss of Rs 865.

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Disclaimer: The author is analyst with Prabhudas Lilladher. Views expressed are personal.