Escorts, Schneider Electric: Two stocks that Vaishali Parekh is bullish on

The chart of Escorts looks attractive with the RSI also improving the bias and indicating a trend reversal to signal a buy

BUY ESCORTS | CMP: Rs 1,267 | Target: Rs 1,420-1,450 | Stop Loss: Rs 1,200

The stock has witnessed a decent correction, bottoming out near the trendline support zone of 1200 level. The trend is currently indicating a trend reversal to improve the bias. The chart looks attractive with the RSI also improving the bias and indicating a trend reversal to signal a buy. We suggest to buy and accumulate this stock for an upside target of 1,400-1,450 keeping the stop loss of 1,180.

BUY SCHNEIDER ELECT | CMP: Rs 96.50 | Target: Rs 114-120 | Stop Loss: Rs 90

The stock has corrected well from the peak levels and is now consolidating. It has made a double bottom formation pattern near 90 levels to form a strong base and has picked up momentum to improve the bias. The RSI too has indicated a trend reversal to signal a buy and we anticipate further upward movement from here on. We suggest to buy and accumulate this stock for an upside target of 114-120 keeping the stop loss of 90.

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Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.