Top three trading calls for today's trade by Prabhudas Lilladher

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

BUY MANAPPURAM FINANCE     

CMP: Rs 106.30    

TARGET: Rs 120      

STOP LOSS: Rs 99

The stock has taken support at Rs 101, which is also where the significant moving average of 34-WMA lies and now has formed a positive bullish candle indicating strength and potential for further  up move. The RSI has shown a positive trend reversal to signal a buy in this stock and with tremendous volume participation. We recommend a buy in this stock for an upside target of Rs 120 keeping a stop loss of Rs 99.

BUY RURAL ELECTRIFICATION CORPORATION       

CMP: Rs 181.30      

TARGET: Rs 200     

STOP LOSS: Rs 168

The stock has witnessed a slow steady gradual correction from around Rs 190 and has consolidated around Rs 173-175 for some time. Now it has given a positive candle pattern anticipating strength and potential for more further upward rally. The RSI has strongly recovered from around the oversold zone and signifies still further buoyancy for upward movement. We recommend a buy in this stock for an upside target of Rs 200 keeping a stop loss of Rs 168.

  

BUY AMARA RAJA BATTERIES        

CMP: Rs 821.25      

TARGET: Rs 880    

STOP LOSS: Rs 785

The stock has witnessed a dip and has made a bottom at around Rs 788 and now has recovered to indicate a bullish candle pattern in the daily chart. We anticipate a potential pullback with the RSI also recovering indicating a trend reversal signaling a buy. With increasing volumes in the recent days and other favourable indicators supporting the positive bias, we recommend a buy in this stock for an upside target of Rs 880 keeping a stop loss of Rs 785.

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