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Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

Topics Stock calls | Stock Call | Markets

BUY HINDALCO

CMP: Rs 196.30

TARGET: Rs 220-225

STOP LOSS: Rs 180

The stock has made almost a double bottom formation near 180 levels forming a strong support base and has given a decent bounce to imply strength and has potential to rise further in the coming days. The RSI also has indicated a trend reversal from the oversold zone and has signaled a buy to improve the bias. With the chart looking promising, we suggest to buy and accumulate the stock with an upside target of Rs 220-225 keeping the stop loss near Rs 180 levels.

BUY APOLLO TYRES

CMP: Rs 168.40

TARGET: Rs 185-188

STOP LOSS: Rs 158

The stock has been maintaining a strong base near about 160 levels and has recovered strongly on many occasions before also and currently a similar pattern has been built with huge volume participation to anticipate further bounce in the coming days. The RSI also has recovered strongly to indicate a positive bias and with favourable indicators supporting, we suggest to buy this stock for an upside target of Rs 185-188 keeping the stop loss near Rs 158.

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