Two technical picks by Vaishali Parekh: Buy Maruti Suzuki, TCS

The stock of TCS has corrected and has bottomed out near 3,170 level, taking base near the trendline support zone

BUY MARUTI | CMP: Rs 7,284 | TARGET: Rs 7,900-8,000 | STOP LOSS: Rs 7,100

The stock has corrected well from the peak of 7,690 level and has bottomed out near 7,150 level. It took support and formed a "higher bottom" formation on the daily chart to indicate strength and has the potential to rise further from here on in the coming days. Besides, the stock has moved past the significant 50EMA and 200DMA levels to indicate improved bias. We suggest to buy and accumulate this stock for an upside target of Rs 7,900-8,000, keeping the stop loss of Rs 7,100. CLICK HERE FOR THE CHART

BUY TCS | CMP:Rs 3,210 | TARGET: Rs 3,450-3,500 | STOP LOSS: Rs 3,100

The stock has corrected and has bottomed out near 3,170 level, taking base near the trendline support zone. This indicates a very good level for entering into the stock. Moreover, the stock is just on the verge of moving past the significant 50EMA level of 3,218 which would further improve the bias. The RSI also is well placed and has shown a trend reversal to signal a buy with potential to rise further in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 3,450-3,500, keeping the stop loss of Rs 3,100. CLICK HERE FOR THE CHART

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