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Top trading ideas by Prabhudas Lilladher: Buy Bajaj Auto, IGL

The RSI has indicated a trend reversal from the oversold zone for IGL and signaled a buy coupled with good volume participation

Vaishali Parekh  |  Mumbai 

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BUY IGL | CMP: Rs 417.85 | TARGET: Rs 450 | STOP LOSS: Rs 400

The stock has taken support near 410 levels and made a higher bottom pattern on the daily charts that imply strength and potential to rise further in the coming days. The RSI has indicated a trend reversal from the oversold zone and signaled a buy coupled with good volume participation witnessed. We suggest to buy and accumulate the stock for an upside target of Rs 450 keeping the stop loss near 400 levels.

BUY BAJAJ AUTO | CMP: Rs 3,059.25 | TARGET: Rs 3,300 | STOP LOSS: Rs 2,980

The stock has witnessed a decent correction in recent times and has shown signs of bottoming out near 2,990 levels and bouncing back with a positive bias. The chart looks attractive with the RSI reversing from the highly oversold zone to signal a buy with decent volume, we recommend to buy this stock for an upside target of Rs 3,300 keeping the stop loss of Rs 2,980.


Disclaimer: Views expressed are the author's own. She may have positions in one or all of the above mentioned stocks.

First Published: Thu, January 09 2020. 07:27 IST
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