Buy Federal Bank, Schneider Electric, Exide Industries: Prabhudas Lilladher

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

Nifty View:

Nifty after making a new high, is taking a breather with a positive bias witnessing the level of 10,080 as near-term support. Our view remains bullish for a projected target of 10,200-10,250. However, the support for the day is seen at 10,100 while resistance is seen at 10,200.

  

BUY FEDERAL BANK    

CMP: Rs 119.10      

TARGET: Rs 130    

STOP LOSS: Rs 112

The stock has been on a good rise in recent times from the low of Rs 104 and is on the verge of a breakout above the Rs 121. The RSI indicator is on the rise indicating strength and potential to rise still further and scale fresh new heights. With decent volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 130 keeping a stop loss of Rs 112.

BUY SCHNEIDER ELECTRIC     

CMP: Rs 143.40      

TARGET: Rs 160    

STOP LOSS: Rs 133

The stock has recovered significantly from the low of Rs 115 and is on the upward movement with potential to gain further in the coming days. The RSI indicates strong positive bias and we anticipate the stock to rally to Rs 160-165 levels. With tremendous volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 160 keeping a stop loss of Rs 133.

BUY EXIDE INDUSTRIES     

CMP: Rs 225.70     

TARGET: Rs 248    

STOP LOSS: Rs 212

The stock has made a good run from the low of Rs 195 to give a breakout above the 200-DMA and has consolidated for some time at Rs 220 level and now is showing potential to given a breakout above the previous peak of Rs 232. The RSI has been on the rise and now again has indicated a trend reversal to signal a buy. With good volume activity supporting our positive bias, we recommend a buy in this stock for an upside target of Rs 248 keeping a stop loss of Rs 212.

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