Vaishali Parekh picks two stocks that are showing trend reversal on charts

The stock of BSE has witnessed a decent correction from 1,400 level and has bottomed out at 1,070, near the significant 50EMA level of 1,065, and is showing signs of reversal

BUY CESC | CMP: Rs 781 | TARGET: Rs 860 | STOP LOSS: Rs 740

The stock, after the correction, has bottomed out near 725 level and has reversed the trend with positive candle formation. Further, with improvement in the bias, it has also crossed above the significant 50EMA level of 772 to indicate potential strength for further upward rise in the coming days. The RSI has shown a reversal from the oversold zone and has signaled a buy. We suggest to buy and accumulate this stock for an upside target of Rs 860 keeping the stop loss near 740 level. CLICK HERE FOR THE CHART

BUY BSE | CMP: Rs 1,139 | TARGET : Rs 1,300-1,370 | STOP LOSS: Rs 1,065

The stock has witnessed a decent correction from 1,400 level and has bottomed out at 1,070, near the significant 50EMA level of 1,065, and is showing signs of reversal with positive candle patterns. The stock has made a higher bottom formation pattern to anticipate for further upward move in the coming days. With the RSI also indicating a trend reversal, which is well placed and has potential to rise further, the chart looks attractive for another upside rally. We suggest to buy and accumulate the stock for an upside target of Rs 1,300-1,370, keeping the stop loss near 1,065. CLICK HERE FOR THE 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.