Vaishali Parekh of Prabhudas recommends buying Concor, Jubilant Food

Concor has indicated a double bottomed pattern on the daily chart and seems well placed to rise further, says the technical analyst from Prabhudas Lilladher

BUY CONCOR

CMP: Rs 636

Target: Rs 710

Stop Loss: Rs 590

The stock has indicated a double bottomed pattern on the daily chart with Rs 595 as the support zone and has gradually picked up momentum to improve the bias. The RSI is also well placed and is on the rise indicating strength and has potential to rise further in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 700 keeping the stop loss of Rs 595. VIEW CHART

BUY JUBILANT FOOD

CMP: Rs 3,763

Target: Rs 4,200

Stop Loss: Rs 3,550

The stock has bottomed out near Rs 3,350 levels after a decent correction and gradually picked up to move past the significant 200-DMA level of Rs 3,470 to improve the bias and sentiment. With a positive bullish candle breaching above the 50-EMA level of Rs 3,695 the stock has triggered a buy signal with strength indicated as depicted also by the RSI indicator. The RSI indicator has further potential an upward rise in the coming days. We suggest to buy and accumulate the stock for an upside target of Rs 4,200 keeping the stop loss near Rs 3,550. VIEW CHART

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