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Two PSU stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

The stock of State Bank of India has taken support near 180-levels which has formed a good base and has picked up momentum to improve the bias

Topics
Stock calls | trading ideas from Prabhudas Lilladher | Market technicals

Vaishali Parekh  |  Mumbai 

The stock of HPCL has taken support near 168 levels forming a triple bottom pattern
The stock of HPCL has taken support near 168 levels forming a triple bottom pattern

BUY STATE BANK | CMP: Rs 198 | Target: Rs 230-240 | Stop Loss: Rs 180

The stock has taken support near 180-levels which has formed a good base and has picked up momentum to improve the bias. The RSI indicator has also indicated a trend reversal from the oversold zone and is going strong. With the chart looking attractive, we suggest to buy and accumulate this stock for an upside target of Rs 230-240 levels, keeping the stop loss of Rs 180.

BUY HPCL | CMP: Rs 176 | Target: Rs 200 | Stop Loss: Rs 163

The stock has taken support near 168 levels forming a triple bottom pattern and has indicated a trend reversal to improve the bias. The RSI indicator has also indicated a trend reversal with positive divergence and we anticipate further upward movement in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 200 levels, keeping the stop loss of 163.


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Disclaimer: The author is an analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.

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First Published: Mon, October 12 2020. 07:53 IST
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