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Two trading ideas by Vaishali Parekh of Prabhudas Lilladher

he stock of Schneider Electric has indicated a 'higher bottom' formation pattern on the daily chart, taking support near the 200-DMA
BUY CAN FIN HOMES | CMP: Rs 503 | Target: Rs 550 | Stop Loss: Rs 475

The stock has been slowly and steadily picking up momentum with improving bias looking promising for further upside. The RSI also has indicated a trend reversal with potential to rise further in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 550, keeping the stop loss of Rs 475.

BUY SCHNEIDER ELECT | CMP: Rs 88.30 | Target: Rs 98-100 | Stop Loss: Rs 82

The stock has indicated a 'higher bottom' formation pattern on the daily chart, taking support near the 200-DMA. It has also picked up momentum with improving bias. The chart looks promising for further upside move in the coming days and with the RSI also indicating a trend reversal and has signaled a buy. We suggest to buy this stock for an upside target of Rs 98-100, keeping the stop loss of Rs 82.


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

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