Buy Delta Corp with a stop loss of Rs 150, says Prabhudas Liladher

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

BUY DELTA CORP     

CMP: Rs 166.85       

TARGET: Rs 185          

STOP LOSS: Rs 150

The stock has been maintaining its level above the cluster of significant moving averages and has the level of Rs 150 as a good support. The RSI is also on the rise and with other favourable indicators supporting, we recommend a buy in this stock for an upside target of Rs 185 keeping a stop loss of Rs 150.

  

BUY FORTIS HEALTH  

CMP: Rs 197.65        

TARGET: Rs 228      

STOP LOSS: Rs 182

The stock has corrected from Rs 228 to Rs 186 and has bottomed out near the 200-DMA and now has made a bullish candle to make the stock attractive for more upside movement. The RSI indicator has also given a strong reversal from its oversold zone and with good volume participation, we recommend a buy in this stock for an upside target of Rs 228 keeping a stop loss of Rs 182.

  

BUY IPCA LAB      

CMP: Rs 515.15      

TARGET: Rs 570       

STOP LOSS: Rs 480

The stock has witnessed a good correction from the peak level of Rs 657 to Rs 485, and for some time it has consolidated between the range of Rs 485 to Rs 515. There has been a positive movement in the past 2-3 days with increasing volume and also with RSI which is on the rise and has reversed its trend recently to signal a positive bias. We recommend a buy in this stock for an upside target of Rs 570 keeping a stop loss of Rs 480.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.