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Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

With the chart looking promising, we suggest to buy Hindalco and accumulate the stock with an upside target of Rs 220-225 keeping the stop loss near Rs 180 levels.

Vaishali Parekh  |  Mumbai 

Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

BUY HINDALCO

CMP: Rs 196.30


TARGET: Rs 220-225

STOP LOSS: Rs 180

The stock has made almost a double bottom formation near 180 levels forming a strong support base and has given a decent bounce to imply strength and has potential to rise further in the coming days. The RSI also has indicated a trend reversal from the oversold zone and has signaled a buy to improve the bias. With the chart looking promising, we suggest to buy and accumulate the stock with an upside target of Rs 220-225 keeping the stop loss near Rs 180 levels.

BUY APOLLO TYRES

CMP: Rs 168.40

TARGET: Rs 185-188

STOP LOSS: Rs 158

The stock has been maintaining a strong base near about 160 levels and has recovered strongly on many occasions before also and currently a similar pattern has been built with huge volume participation to anticipate further bounce in the coming days. The RSI also has recovered strongly to indicate a positive bias and with favourable indicators supporting, we suggest to buy this stock for an upside target of Rs 185-188 keeping the stop loss near Rs 158.

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

First Published: Thu, February 06 2020. 07:51 IST
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