Two stock recommendations by Vaishali Parekh: Buy Bata, Wockhardt

After a decent correction from the peak level, Wockhardt stock has bottomed out near Rs 520 zone

BUY WOCKHARDT | CMP: Rs 572 | Target: Rs 640-670 | Stop Loss: Rs 520

After a decent correction from the peak level, the stock has bottomed out near Rs 520 zone. Now, a short consolidation has improved the bias with a positive candle.  The RSI is well placed and has shown a trend reversal with the potential to rise further in the coming days. With the chart looking good, we suggest buying this stock for an upside target of Rs 640, keeping the stop loss of Rs 520. CLICK HERE FOR CHART

BUY BATA | CMP: Rs 1,618 | Target: Rs 1,750-1,800 | Stop Loss: Rs 1,550

The stock has indicated a higher bottom formation pattern on the daily chart, taking support near the significant 50DMA level at Rs 1,550. The RSI is indicating a trend reversal and signalling a buy anticipating further upmove. Currently, a positive candle has shown bullish bias making the chart look attractive.  We suggest buying and accumulating this stock for an upside target of Rs 1,750-1,800. Keep the stop loss near Rs 1,550 level. CLICK HERE FOR CHART

=======================================

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