Vaishali Parekh of Prabhudas Lilladher recommends buying M&M, Himadri

Mahindra & Mahindra has made a triple bottom formation on the daily chart, can target Rs 850 on the upside, says the technical analyst

BUY M&M

CMP: Rs 754

TARGET: Rs 850

STOP LOSS: Rs 700

The stock has made a triple bottom formation on the daily chart and has bounced back with a positive candle pattern. It looks poised for further upward rise in the coming days.The RSI has regained from its low and has indicated a trend reversal thus signaling a 'Buy'. With good volume activity witnessed, we recommend a 'Buy' for an upside target of Rs 850, and keeping a stop loss at Rs 700. CLICK HERE FOR THE CHART

BUY HSCL

CMP: Rs 50

TARGET: Rs 57-60

STOP LOSS: Rs 46

The stock has bottomed out near Rs 42-odd level and picked up momentum and currently with a positive bullish candle formation moving past the significant 200-DMA and 50-EMA moving averages has improved the bias to anticipate further upward rise in the coming days. The RSI is well placed gaining strength and is poised for further upward movement. We suggest to 'Buy' this stock for an upside target of Rs 57-60 keeping the stop loss at Rs 46. 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.