Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
JK TYRE INDUSTRIES - BUY
CMP: Rs 179.65
TARGET: Rs 190
STOP LOSS: Rs 172
The stock after making a higher bottom formation has recovered to bounce back to its previous peak level of around 180 and is on the verge of a breakout with increasing volume participation. Also with the positive RSI indicator supporting the upward move, we recommend to Buy this stock for an upside target of 190 keeping a stop loss of 172.
RAMKRISHNA FORGINGS - BUY
CMP: Rs 487.35
TARGET: Rs 530
STOP LOSS: Rs 465
The stock has been moving around in a consolidation phase and with the RSI indicator bouncing back from its oversold zone, has indicated a positive buy signal. We recommend a Buy in this stock with a promising upside target of 530 keeping a stop loss of 465.
GUJARAT ALKALIES & CHEMICALS - BUY
CMP: Rs 472.65
TARGET: Rs 500
STOP LOSS: Rs 455
After a short period of consolidation at around 455 – 460 levels, this stock has given a breakout and is anticipated to head towards the upward target of 500. The RSI indicator also has made a trend reversal to signal a Buy in the stock. We recommend to Buy this stock for an upside target of 500 keeping a stop loss of 455.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
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