Top stock picks from Prabhudas Lilladher: Buy M&M and Vedanta

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  Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
MAHINDRA & MAHINDRA - BUY
CMP: Rs 1,307     
TARGET: Rs 1,400   
STOP LOSS: Rs 1,250
 
The stock after a long consolidation phase has given a breakout with high volume. The MACD indicator has shown a positive signal and along with rising RSI, this stock looks positive and has a potential for an upside further move.
We recommend to buy this stock keeping a stop loss of 1,250 and having a target of 1,400.
 
VEDANTA - BUY     
CMP: Rs 235.35   
TARGET: Rs 257  
STOP LOSS: Rs 225
 
The stock after correcting from 278 levels has been consolidating for quite some time with a good support at 225. The decent volume and RSI indicator at its highly oversold zone has indicated a positive buy signal in the daily chart. We recommend to buy this stock keeping a stop loss of 225 and having an upside target of 257.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.