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Stock recommendation from Prabhudas Lilladher: Buy ACC, Cadila Health

For ACC, the RSI has signaled a trend reversal while decent volume participation has also been witnessed

Vaishali Parekh  |  Mumbai 

Markets, Buy, Sell, Stocks, Shares
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BUY | CMP: Rs 1,487.25 | TARGET: Rs 1,600 -1,620 | STOP LOSS: Rs 1,420

The stock has witnessed some erosion recently and has taken support near the strong base level of Rs 1,420. It has given a pull-back, which shows signs of an improving bias and the potential to rise further with the same momentum in the coming days. The RSI has singalled a trend reversal for a buy and with decent volume participation witnessed, we suggest to buy this stock for an upside target of Rs 1,600 keeping the stop loss near Rs 1,420 levels.

BUY CADILA HEALTH | CMP: Rs 264.15 | TARGET: Rs 280-285 | STOP LOSS: Rs 255

The stock has made a higher bottom formation pattern on the daily chart, taking support near 255 levels. It has indicated a bounce that has improved the bias. The RSI is also, more or less, showing a trend reversal. The chart looks promising with favorable indicators and with decent volume participation witnessed, we suggest to buy and accumulate this stock for an upside target of Rs 280-285 keeping the base near Rs 255 as support level.

First Published: Wed, February 05 2020. 07:45 IST
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