Vaishali Parekh is bullish on Tata Chemicals, Snowman Logistics. Check why

With the RSI well-placed and indicating a trend reversal to signal a buy, Tata Chemicals' stock is expected to rise further in the coming days

BUY TATA CHEM | CMP: Rs 767.70 | TARGET: Rs 840-860 | STOP LOSS: Rs 720

The stock has moved up decently and decisively above the 50-EMA level with a bullish candle pattern in the daily chart after a consolidation phase that stayed for quite some time and has now given a triangular pattern breakout to improve the bias. With the RSI also well placed and indicating a trend reversal to signal a buy, we anticipate further upward rise in the coming days. With the chart looking attractive, we suggest to buy and accumulate this stock for an upside target of 840-860 keeping the stop loss of 720.

BUY SNOWMAN | CMP: Rs 54.75 | TARGET: Rs 62-64 | STOP LOSS: Rs 52

The stock has attained the base of the channel pattern in the daily chart taking support near 52 levels and has given a bullish candle pattern in the daily chart to move past the significant 50-EMA level of 53.20 decisively and anticipate further upward rise. The RSI also has improved the bias and indicated a trend reversal to signal a buy. We suggest to buy and accumulate this stock for an upside target of 62-64 keeping the stop loss of 52.
Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.