 "Sensex, Nifty gain 2.5% on the back of huge foreign inflow, hope of reforms getting speedier.")
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
BUY MCX
CMP: Rs 1217.70
TARGET: Rs 1300
STOP LOSS: Rs 1150
The stock has made a cup with the handle type chart pattern and is heading towards the Rs 1300 landmark. The volume has been on the rise after it made a bottom at around Rs 1120 and with rising RSI and positive indicators. We recommend a Buy in this stock with an upside target of Rs 1300 keeping a stop loss of Rs 1150.
BUY MOTHERSON SUMI
CMP: Rs 386
TARGET: Rs 410
STOP LOSS: Rs 372
The stock has given a breakout above the Rs 385 and with rising RSI and MACD turning its trend up. This stock looks attractive for an upside target of Rs 410. We recommend a Buy in this stock keeping a stop loss of Rs 372.
BUY SURYA ROSHNI
CMP: Rs 221.95
TARGET: Rs 240
STOP LOSS: Rs 210
The stock has given a breakout closing above the Rs 220 accompanied by a tremendous volume participation. The RSI indicator has turned up giving a buy signal and with the support being strong at around Rs 210. We recommend a Buy in this stock with an upside target of Rs 240.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
