Buy Bajaj Auto, Gail and Jet Airways says Prabhudas Lilladher

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
BAJAJ AUTO - BUY       
CMP: Rs 2,874.65      
TARGET: Rs 3,120      
STOP LOSS: Rs 2,820

 
The stock has made a higher bottom formation in the daily chart and is in a trending mode and now the positive candle formed indicates further strength and potential to rally upward to scale new heights. The RSI indicator has made a steep rise and also has made a trend reversal signaling a buy in the stock. With good volume participation, we recommend a buy in this stock for an upside target of 3120 keeping  a stop loss 2820

 
JET AIRWAYS - BUY      
CMP: Rs 609.40      
TARGET: Rs 665       
STOP LOSS: Rs 580
 
The stock has taken a breather after it rallied from 455 levels to touch the peak of 624 and now after a gradual correction, it has made a higher bottom formation like pattern and now has produced a bullish candle formation indicating positive bias in the stock. The RSI indicator has indicated a trend reversal signaling a buy and thus we recommend a buy in this stock for an upside target of 665 keeping a stop loss of 580.
 
GAIL - BUY     
CMP: Rs 377.75      

TARGET: Rs 420      
STOP LOSS: Rs 360
 
The stock has been consolidating for quite some time at around 370 levels just above the 200 DMA which is at 364 level currently and the bullish candle formed now indicates a positive bias with more upward potentials. The volume participation has been a decent one and with the RSI also indicating a trend reversal signaling a buy, we recommend this stock for a buy for an upside target of  420 keeping a stop loss of 360.
 
MAHINDRA & MAHINDRA FINANCIAL SERVICES - BUY       
CMP: Rs 423.55     
TARGET: Rs 500      
STOP LOSS: Rs 370

 
The stock has been forming higher bottom and higher top in recent times and is in a upward trending mode with positive bias. Now the positive candle formation suggest strength for further movement in the north direction and with RSI indicator also signaling a buy reversing its trend, we recommend a buy in this stock with an upside target of 500 keeping a stop loss of 370.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.