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Stock recommendation from Prabhudas Lilladher: Buy BHEL, Marico

Marico has currently given a decent bounce with a positive bias and the RSI is also showing a trend reversal with a buy signal

Vaishali Parekh  |  Mumbai 

Markets, Buy, Sell, Stocks, Shares
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BUY BHEL | CMP: Rs 46.05 | TARGET: Rs 55 | STOP LOSS: Rs 42

The stock has maintained a strong base near 42.50 levels with a double bottom formation on the daily chart. A decent recovery has been witnessed in the stock and the bias stays positive with a trend reversal indicated in the RSI indicator to signal a buy. With good volume participation witnessed, we recommend a buy in this stock for an upside target of 55 keeping the stop loss of 42.

BUY MARICO | CMP: Rs 343.45 | TARGET: Rs 360 | STOP LOSS: Rs 328

The stock has made a double bottom formation pattern on the daily charts near 330 levels to maintain a strong base and currently has given a decent bounce with a positive bias and with the RSI also showing a trend reversal with a buy signal, the chart has become attractive. We suggest to buy and accumulate this stock for an upside target of 360 keeping the stop loss at 328 levels.

First Published: Tue, January 14 2020. 08:17 IST
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