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Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

Castrol India has made a more or less higher bottom formation pattern on the daily chart and has bounced back with a positive candle to signal strength

Vaishali Parekh  |  Mumbai 

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BUY CASTROL IND

CMP: Rs 132.90

TARGET: Rs 150

STOP LOSS: Rs 125

The stock has made a more or less higher bottom formation pattern on the daily chart and has bounced back with a positive candle to signal strength and has potential to rise further in the coming days. With the relative strength index (RSI) also showing a trend reversal to signal a "buy" maintaining a positive bias, we suggest to buy and accumulate this stock for an upside target of Rs 150 keeping the stop loss near Rs 125 level.

BUY TCS

CMP: Rs 2,183.75

TARGET: Rs 2,300

STOP LOSS: Rs 2,145

The stock has been maintaining the base near Rs 2,150 levels which is where the significant 200-DMA moving average lies and has improved the bias with the RSI showing a trend reversal to signal a buy. The overall indicator has been favourable and with good volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 2,300 keeping the stop loss of Rs 2,145.

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

First Published: Wed, January 29 2020. 07:38 IST
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