Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
BUY MOTHERSON SUMI
CMP: Rs 470.05
TARGET: Rs 500
STOP LOSS: Rs 450
The stock has been in a good rally and recently from the peak level of around Rs 493, it gave a small correction and from the low of Rs 458, it has now made a positive candle formation. We now anticipate the stock to move again still further to move past the previous peak of Rs 493. We recommend a buy in this stock for an upside target of Rs 500 keeping a stop loss of Rs 450.
BUY HERO MOTOCORP
CMP: Rs 3695.20
TARGET: Rs 3880
STOP LOSS: Rs 3560
The stock has made a dip from the peak level of around Rs 3,850 to Rs 3,640 and has now indicated a reversal in the RSI pattern. A positive candle pattern is visible and we anticipate the stock to move further on the upward direction to scale around Rs 3,880 in the coming days. With improving volume participation, we recommend a buy in this stock for an upside target of Rs 3,880 keeping a stop loss of Rs 3,560.
BUY POWER FINANCE
CMP: Rs 121.90
TARGET: Rs 140
STOP LOSS: Rs 112
The stock has given a decent correction from the high level of Rs 169 to Rs 122 and now after a second dip, it has made a recovery in the hourly chart. We anticipate the stock to recover further and reach the level of Rs 138. With good volume participation, we recommend a buy in this stock for an upside target of Rs 140 keeping a stop loss of Rs 112.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.
