Web Exclusive
Escorts, Schneider Electric: Two stocks that Vaishali Parekh is bullish on

The stock of Schneider Electric has corrected well from the peak levels and now consolidating
BUY ESCORTS | CMP: Rs 1,267 | Target: Rs 1,420-1,450 | Stop Loss: Rs 1,200

The stock has witnessed a decent correction, bottoming out near the trendline support zone of 1200 level. The trend is currently indicating a trend reversal to improve the bias. The chart looks attractive with the RSI also improving the bias and indicating a trend reversal to signal a buy. We suggest to buy and accumulate this stock for an upside target of 1,400-1,450 keeping the stop loss of 1,180.

BUY SCHNEIDER ELECT | CMP: Rs 96.50 | Target: Rs 114-120 | Stop Loss: Rs 90

The stock has corrected well from the peak levels and is now consolidating. It has made a double bottom formation pattern near 90 levels to form a strong base and has picked up momentum to improve the bias. The RSI too has indicated a trend reversal to signal a buy and we anticipate further upward movement from here on. We suggest to buy and accumulate this stock for an upside target of 114-120 keeping the stop loss of 90.

==============================

Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.



Dear Reader,


Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel