Based on technical factors, Vaishali Parekh, Vice President – Technical Research at domestic brokerage and research firm Prabhudas Lilladher suggests three stocks that investors can buy. The three stock picks are Bank of Baroda, Infosys and Housing and Urban Development Corporation Limited (HUDCO).
Prabhudas Lilladher Peak technical selection ,
Buy Bank of Baroda:
“The stock is in a strong upward trend and after minor correction has recently taken support near the important 50EMA level of 165 and improving overall bias on the daily chart has indicated a trend reversal with a nice pullback RSI has shown a trend reversal which has visible potential to the upside to signal strength and may further extend the momentum. We keep a stop loss of 172 in mind for a target above 200. Recommend to buy this stock.”
Medium Term Tech Pick –
buy infosys
“After minor correction the stock has consolidated and taken support near 1500 level which is almost 50% retracement of recent rally and is indicating some correction in bias with RSI near oversold after correction has flattened out. Reversal with visible upside potential. A decisive move to the critical 50EMA and 200DMA levels of 1550 will further strengthen the trend speculating for further targets. With the charts looking good, we Recommend a positional buy on this stock for upside target Keeping a stop loss of 1,660 1,440.”
buy hudco
“The stock has slipped with a short correction after forming a double top formation and has taken support near the 45 zone to signal a pullback. The bias has improved with a sustained upside move and a trend reversal is also visible with the RSI showing extreme upside potential. With the risk reward ratio favorable and the charts looking good, we recommend a positional buy on this stock for an upside target keeping a stop loss of 63 45.”
The views and recommendations given above are those of individual analysts or broking companies and not of Mint.
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