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Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

For HUL's stock, the bias has improved a lot and the stock has the potential to rise further

Topics
Markets | Market technicals | Hindustan Unilever

Vaishali Parekh  |  Mumbai 

Trading Strategy

BUY | CMP: Rs 2,089.45 | Target: Rs 2,450-2,500 | Stop Loss: Rs 1,950

The stock has witnessed a decent erosion and has bottomed out near 1,900 levels and indicated a decent bounce back with the RSI also showing a reversal and signalling 'buy'. The bias has improved a lot and the stock has the potential to rise further. Hence, we suggest to buy and accumulate this stock for an upside target of 2,450-2,500 keeping the stop loss of 1,950.

BUY | CMP: Rs 469 | Target: Rs 510-530 | Stop Loss: Rs 450

The stock has more or less indicated a higher bottom formation pattern on the daily charts and has shown signs of reversing from 448 levels.

The RSI is also improving its trend. The chart looks attractive and has signified strength and has the potential to rise further in the coming days. We suggest to buy and accumulate this stock for an upside target of 510-530 keeping the stop loss of 450.


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

First Published: Mon, May 11 2020. 08:14 IST
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