Buy HPCL, Arvind and Adani Enterprises, says Vaishali Parekh

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

BUY ADANI ENTERPRISES    

CMP: Rs 141.30     

TARGET: Rs 153-158    

STOP LOSS: Rs 130

The stock has been in consolidation for quite some time and now has given a bullish candle to indicate a breakout above the Rs 136. The RSI indicator also has given a positive trend reversal signaling a buy while also the MACD has made a positive trend reversal showing strength and has potential for still further up move. We recommend a buy in this stock for an upside target of Rs 153- 158 keeping a stop loss of Rs 130.

BUY  ARVIND  

CMP: Rs 376.05        

TARGET: Rs 405        

STOP LOSS: Rs 360

The stock has made a lower bottom formation pattern in the daily chart and has made a recovery with good volume participation. The RSI is on the rise and also the MACD indicator is signaling a positive trend and we anticipate the stock to scale further heights in the coming days. We recommend a buy in this stock for an upside target of Rs 405 keeping a stop loss of Rs 360.                 

BUY HPCL  

CMP: Rs 359.25       

TARGET: Rs 385      

STOP LOSS: Rs 340

The stock has been hovering between the range of Rs 332 and Rs 350 for some time and now has produced a bullish candle to give a breakout above the 350 level with decent volume participation. The RSI has given a steep rise and has indicated strength while also the MACD has indicated a positive trend reversal to signal a buy. We recommend a buy in this stock for an upside target of 385 keeping a stop loss of 340.

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