Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
TATA MOTORS - BUY
CMP: Rs 469.55
TARGET: Rs 490
STOP LOSS: Rs 460
The stock has moved above its previous peak of 460 levels giving a breakout accompanied by decent volume. With the RSI indicator in the positive and in the rising trend, we anticipate the stock move up further till 490 levels from here on. We recommend a Buy in this stock with an upside Target of 490 keeping a stop loss of 460.
VOLTAS - BUY
CMP: Rs 446.50
TARGET: Rs 470
STOP LOSS: Rs 433
The stock has made a positive candle pattern and has given a breakout closing above its previous peak of 446. The RSI also has indicated a buy signal by reversing it trend on the positive side. With decent volume and other favourable indicators, we recommend a Buy in this stock with an upside Target of 470 keeping a stop loss of 433.
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.