 "Two auto stocks that Vaishali Parekh believes can be good bets")
BUY BAJAJ AUTO | CMP: Rs 3,829 | TARGET: Rs 4,300 | STOP LOSS: Rs 3,650
The stock has corrected well from the peak level of Rs 4,300 and is currently near the support zone of Rs 3,730. It has indicated a positive candle to improve the bias. The RSI suggests a trend reversal and potential to carry on with positive bias in the coming days. With the chart looking attractive, we suggest to buy and accumulate this stock for an upside target of Rs 4,300, keeping a stop loss of Rs 3,650. CLICK HERE FOR CHART
BUY M&M | CMP: Rs 743 | TARGET: Rs 820-850 | STOP LOSS: Rs 710
The stock has witnessed a gradual correction in recent times and has bottomed out near Rs 720 level, taking support, indicating a positive bullish candle pattern in the daily chart to improve the bias. The RSI indicator has also shown a trend reversal from the oversold zone and signalled a buy with the potential to rise further upside in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 820-850, keeping the stop loss of Rs 710. CLICK HERE FOR CHART
==========================================================
Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.
The stock has corrected well from the peak level of Rs 4,300 and is currently near the support zone of Rs 3,730. It has indicated a positive candle to improve the bias. The RSI suggests a trend reversal and potential to carry on with positive bias in the coming days. With the chart looking attractive, we suggest to buy and accumulate this stock for an upside target of Rs 4,300, keeping a stop loss of Rs 3,650. CLICK HERE FOR CHART
BUY M&M | CMP: Rs 743 | TARGET: Rs 820-850 | STOP LOSS: Rs 710
The stock has witnessed a gradual correction in recent times and has bottomed out near Rs 720 level, taking support, indicating a positive bullish candle pattern in the daily chart to improve the bias. The RSI indicator has also shown a trend reversal from the oversold zone and signalled a buy with the potential to rise further upside in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 820-850, keeping the stop loss of Rs 710. CLICK HERE FOR CHART
==========================================================
Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%