Buy Maruti Suzuki, M&M, says Prabhudas Lilladher

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  Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
MARUTI SUZUKI - BUY   
CMP: Rs 6,878.85    
TARGET: Rs 7,200    
STOP LOSS: Rs 6,700
 
The stock has made a higher bottom formation with high tremendous volume participation and with a positive candle pattern has indicated a buy signal. With rising RSI and other favourable indicators, we recommend a buy in this stock for an upside target of 7200 keeping a stop loss of 6700.
 
M&M - BUY   
CMP: Rs 1,331.75     
TARGET: Rs 1,400   
STOP LOSS: 1,300
 
After giving a steep correction from 1400 levels, this stock has made a decent recovery and closed above the 200 DMA. With rising RSI and other positive indicators, we recommend a buy in this stock for an upside target of 1400 keeping a stop loss of 1300.
 
VRL LOGISTICS - BUY    
CMP: Rs 315.60    
TARGET: Rs 350   
STOP LOSS: Rs 300   
 
The stock has corrected from 347 levels in the recent past days and has maintained near its 200 DMA which is around 298 value. The positive candle pattern has indicated a Buy and we anticipate the stock to move up further till 350 levels. We recommend a buy in this stock keeping a stop loss of 300 and Target of 350.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.