 "Top trading ideas from Prabhudas Lilladher for today's trade")
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
GUJARAT ALKALIES & CHEMICALS - BUY
CMP: Rs 412.95
TARGET: Rs 445
STOP LOSS: Rs 390
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The stock has been in consolidation for quite a long time at around the 395 level and now it has produced a bullish candle stick pattern to give a breakout above the consolidation range. The RSI indicator has also given a decisive trend reversal to signify a strong potential move in the upward direction. Along with decent volume participation, we recommend a buy in this stock for an upside target of 445 keeping a stop loss of 390
EROS MEDIA - BUY
CMP: Rs 242.55
TARGET: Rs 270
STOP LOSS: Rs 215
The stock has been moving sideways in a range bound zone for quite some time and has got the level of around 210 - 215 as a very strong support. It has produced a strong bullish candle now signifying strength along with the RSI indicator reversing strongly to indicate potential for an up move to reach new target levels. We recommend a buy in this stock for an upside target of 270 keeping a stop loss of 215
BHUSHAN STEEL - BUY
CMP: Rs 74.80
TARGET: Rs 85
STOP LOSS: Rs 65
The stock has witnessed a good correction from the peak of 103 to 62 levels and has bottomed out there to give a pullback recovery. The RSI has hit the oversold zone and has now indicated a trend reversal signaling a buy. The stock looks potentially buoyant to rise further to new targets and we recommend a buy in this stock for an upside target of 85 keeping a stop loss of 65.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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