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Two trading ideas by Vaishali Parekh of Prabhudas Lilladher

Technical charts indicate a trend reversal in Can Fin Homes and Schneider Electric stocks with potential to rise further in the coming days

Topics
Stock calls | trading ideas from Prabhudas Lilladher | Markets

Vaishali Parekh  |  Mumbai 

he stock of Schneider Electric has indicated a 'higher bottom' formation pattern on the daily chart, taking support near the 200-DMA
he stock of Schneider Electric has indicated a 'higher bottom' formation pattern on the daily chart, taking support near the 200-DMA

BUY | CMP: Rs 503 | Target: Rs 550 | Stop Loss: Rs 475

The stock has been slowly and steadily picking up momentum with improving bias looking promising for further upside. The RSI also has indicated a trend reversal with potential to rise further in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 550, keeping the stop loss of Rs 475.

BUY SCHNEIDER ELECT | CMP: Rs 88.30 | Target: Rs 98-100 | Stop Loss: Rs 82

The stock has indicated a 'higher bottom' formation pattern on the daily chart, taking support near the 200-DMA. It has also picked up momentum with improving bias. The chart looks promising for further upside move in the coming days and with the RSI also indicating a trend reversal and has signaled a buy. We suggest to buy this stock for an upside target of Rs 98-100, keeping the stop loss of Rs 82.

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

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First Published: Mon, January 11 2021. 07:12 IST
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