Top stock picks: Buy Anant Raj, HPCL, says Prabhudas Lilladher

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

 

ANANT RAJ - BUY

CMP: Rs 66.25  

TARGET: Rs 71 

STOP LOSS: Rs 63

 

The stock has been making a higher bottom chart formation in recent times and this time too, has given a green positive candle and with rising trend we anticipate this stock to rise to near 71 levels. The RSI indicator has been positive with also the MACD indicator being in the rise

 

HPCL - BUY 

CMP: Rs 535.70  

TARGET: Rs 570 

STOP LOSS: Rs 520

 

The stock has given a bullish candle pattern after a short consolidation period and we anticipate it to give a return of around 7% -8% from here on. The RSI indicator has also given a Buy signal by reversing its trend. The support is strong at around 518 -520 levels. So we recommend a buy in this stock keeping a stop loss of 520 for an upside target of 570.

 

ADITYA BIRLA FASHION - BUY   

CMP: Rs 170 

TARGET: Rs 185 

STOP LOSS: Rs 160

 

The stock has made a higher bottom formation and with high volume participation, this stock is in an upward trend along with rising RSI. Also the stock has taken support at the trend line in the daily chart. We recommend this stock for an upside target of 185 keeping a stop loss of 160.

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


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