Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
ASHOK LEYLAND - BUY
CMP: Rs 85.55
TARGET: Rs 90
STOP LOSS: Rs 82.50
The stock has corrected from around 89 levels and has maintained and consolidated near the 83 levels. The RSI indicator has indicated a buy signal with a trend reversal and also stock has given a good spurt with volume participation. We recommend a buy in this stock with an upside target of 90 keeping a stop loss of 82.50
TV18 BROADCAST - BUY
CMP: Rs 41.45
TARGET: Rs 45
STOP LOSS: Rs 40
The stock has made a decent correction right from 45.70 to 39.50 levels and has made a trend reversal with a healthy green candle pattern. It has given a close above the cluster of moving averages which is significant. The RSI indicator also has confirmed the buy signal with a trend reversal and we anticipate this stock to rally upto 45 levels. We recommend a buy in this stock keeping a stop loss of 40
ASHAPURA MINE - BUY
CMP: Rs 67.80
TARGET: Rs 75
STOP LOSS: Rs 64
The stock has made a good correction from around 83 price to consolidate near the 64 levels which is forming a good support level. The stock has made a good recovery with huge volume participation and also the RSI indicator has reversed its trend to give a buy signal. We recommend this stock for an upside target of 75 keeping a stop loss of 64.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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