Two technical stock picks by Vaishali Parekh of Prabhudas Lilladher

Ashok Leyland stock has witnessed a decent correction from Rs 143 level and bottomed out near the significant 200-DMA level of Rs 116

BUY ASHOK LEYLAND | CMP: Rs 120 | TARGET: Rs 134-138 | STOP LOSS : Rs 114

The stock has witnessed a decent correction from Rs 143 level and bottomed out near the significant 200-DMA level of Rs 116. It is currently indicating a positive candle pattern with improved bias. The RSI has also indicated a reversal from the oversold zone and a buy with the potential to rise further upward. We suggest buying this stock for an upside target of Rs 134-138, keeping the stop loss at Rs 114. CLICK HERE FOR CHART

BUY SHRIRAM TRANS FINANCE | CMP: Rs 1,281 | TARGET: Rs 1,420-1,450 | STOP LOSS: Rs 1,200

The stock has witnessed a decent correction from the Rs 1,470 level and is currently indicating signs of bottoming out near the Rs 1,210 level, and reversing from that zone. The RSI has also shown improvement, indicating strength. With the chart looking attractive with minimum downside risk, we suggest buying this stock for an upside target of Rs 1,420-1,450, keeping the stop loss of Rs 1,200. CLICK HERE FOR 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.