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BUY MARUTI SUZUKI | CMP: Rs 7,249 | TARGET: Rs 8,200-8,400 | STOP LOSS: Rs 6,800
The stock has witnessed a decent correction recently and has taken support near 6,800 levels -- which is an important base -- and also the 200-DMA level lies in that zone. The stock has indicated a trend reversal from that levels and has improved the bias to signal further upside in the coming days. The RSI also has reversed from the oversold zone and has signaled a 'buy'. We suggest to buy and accumulate the stock for an upside target of 8,200-8,400 levels keeping the stop loss near 6,800.
BUY HINDUSTAN UNILEVER | CMP: Rs 2,201.10 | TARGET: Rs 2,440-2,500 | STOP LOSS: Rs 2,100
The stock has been underperforming for quite some time and currently has formed a strong base near 2,140-2,120 levels. It has shown signs of picking up momentum, thus improving the bias, and has the potential for an upside from hereon. The RSI also has improved from the oversold zone, showing a trend reversal and is well placed for further upside move. We suggest to buy and accumulate this stock for an upside target of 2,440-2,500 keeping the stop loss near 2,100 levels.
Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.
