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Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

Topics Markets | Market technicals | ITC

BUY ITC LTD | CMP: Rs 212 | Target: Rs 230-238 | Stop Loss: Rs 200

The stock has bottomed out near the significant 200-DMA level of 198, picking up momentum and currently with a bullish candle has moved past the 50-EMA level of 207 to improve the bias. The RSI also has indicated a trend reversal, showing strength, and has signaled a buy. With the chart looking attractive, we suggest to buy this stock for an upside target of 230-238, keeping the stop loss of 200. CLICK HERE FOR THE CHART

BUY RITES | CMP: Rs 243 | Target: Rs 270 | Stop Loss: Rs 232

The stock has maintained a good support base near 235 levels and, on several occasions, has reversed from this zone to give a decent return. This time too, currently, it has picked up momentum to improve the bias and we expect further upside movement in the coming days. The RSI also has indicated a trend reversal, showing strength, and has signaled a buy. With the chart looking attractive, we suggest to buy this stock for an upside target of 270 keeping the stop loss of 232. CLICK HERE FOR THE CHART
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