 "Three trading ideas by Vaishali Parekh of Prabhudas Lilladher")
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
BUY ARVIND
CMP: Rs 369.60
TARGET: Rs 395
STOP LOSS: Rs 355
The stock has corrected well and has made a lower bottom formation in the daily chart to regain with a strong bullish candle along with reversal in the RSI indicator from the oversold zone to signal a buy. The stock has witnessed improving volume participation and with favourable indicator supporting, we recommend a buy in this stock for an upside target of Rs 395 keeping a stop loss of Rs 355.
BUY PNB
CMP: Rs 139.25
TARGET: Rs 155
STOP LOSS: Rs 130
The stock has made a lower bottom formation pattern in the daily chart and is on a recovery path. The RSI has also indicated a trend reversal from its oversold zone and thus we anticipate a strong up move further to scale above the 200-DMA level and reach to around 155 levels. With the volume activity improving, we recommend a buy on this stock for an upside target of Rs 155 keeping a stop loss of Rs 130.
BUY RBL BANK
CMP: Rs 517.70
TARGET: Rs 560
STOP LOSS: Rs 490
The stock has been consolidating for some time and has produced a bullish candle formation to signify a potential up move in the coming days. The RSI too has been consolidating around the oversold zone and it has given a positive trend reversal to signal a buy and is on the rise. We recommend a buy in this stock for an upside target of Rs 560 keeping a stop loss of Rs 490.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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