Buy JM Financial, Thermax and Engineers India, says Vaishali Parekh

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

BUY JM FINANCIAL      

CMP: Rs 127.50        
TARGET: Rs  142         
STOP LOSS: Rs 120

The stock has made a double bottom formation like pattern in the daily chart and has recovered substantially from thereon and is on the rise. We anticipate further momentum in this stock to scale still higher targets and with also the RSI indicator reversing its trend signaling a buy, it has maintained a positive bias. We recommend this stock for a buy for an upside target of Rs 142 of keeping a stop loss of Rs 120.
  
BUY THERMAX       

CMP: Rs 941         
TARGET: Rs 1030          
STOP LOSS: Rs 885

The stock has made a decent correction from the levels of Rs 1,070 to Rs 884 and now indicated a positive reversal in the trend with the RSI indicator also reversing its trend which had hit the oversold area of around 26. The stock looks potentially buoyant to rise still further and scale new higher targets. With improving volume participation, we recommend a buy in this stock for an upside target of Rs 1,030 keeping a stop loss of Rs 885. 

BUY ENGINEERS  INDIA     

CMP: Rs 164.70        
TARGET: Rs 180          
STOP LOSS: Rs 150

The stock has been consolidating for quite some time at around Rs 155 and Rs 158 levels and now has made a positive candle pattern in the daily chart with good volume activity. The RSI indicator has made a positive trend reversal and has signaled a buy with a positive bias. With favourable indicators supporting, we recommend a buy in this stock for an upside target of Rs 180 keeping a stop loss of Rs 150.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.


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