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Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
MOTHERSON SUMI - BUY
CMP: Rs 423.60
TARGET: Rs 450
STOP LOSS: Rs 413
The stock has made a tremendous run in the past 4-5 months and the bullish trend is intact and has been maintained and we anticipate this stock to continue its up move further till 450 levels. The RSI has made a trend reversal and indicated a buy signal and with high volume participation from the market players, we recommend a Buy in this stock for an upside target of 450 keeping a stop loss of 413.
IGARASHI MOTORS - BUY
CMP: Rs 872.75
TARGET: Rs 940
STOP LOSS: Rs 840
The stock has made a higher bottom formation pattern and is looking attractive for an up move till 940. Also there is a decent volume activity seen and with the RSI indicator signaling a buy, we recommend a Buy in this stock for an upside target of 940 keeping a stop loss of 840.
AXIS BANK - BUY
CMP: Rs 501.70
TARGET: Rs 535
STOP LOSS: Rs 490
The stock has bottomed out and given a positive candle pattern formation and it has been maintaining it support level at around 485 levels and has become a significant base for quite some time. The RSI also has indicated a trend reversal signalling a Buy and we anticipate this stock to move upward till 535 levels. We recommend a Buy in Axis Bank keeping a stop loss of 490 for an upside target of 535.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
