Top pick: Buy Vedanta with a target of Rs 255, says Prabhudas Lilladher

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

 

VEDANTA - BUY     

CMP: Rs 236.85           

TARGET: Rs 255           

STOP LOSS: Rs 225

 

The stock has been moving in a narrow range till now oscillating between the moving averages of 144 WMA and 200 DMA on the downside where it has been maintaining a strong support. We recommend a buy in this stock for an upside target of 255 keeping a stop loss of 225.

 

ZEE ENTERTAINMENT ENTERPTISES - BUY    

CMP: Rs 509.75            

TARGET: Rs 550          

STOP LOSS: Rs 495

 

The stock has been moving sideways in a narrow range and regularly has taken support at the 200 DMA which is now around at 505 level. The RSI has recently made a trend reversal indicating a buy signal and with increasing volume participation, we anticipate this stock to rise further till 550 levels. We recommend a buy in this stock for an upside target of 550 keeping a stop loss of 495.

 

KAVERI SEEDS - BUY      

CMP: Rs 634.80             

TARGET: Rs 685           

STOP LOSS: Rs 600

 

The stock has had a small correction from the peak level of 682 and now is consolidating to gather strength and is making a higher bottom formation pattern in the daily chart. We anticipate the stock to rise further upward till 685 levels and with good volume participation, we recommend a buy in this stock for an upside target of 685 keeping a stop loss of 600.

 

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.