Buy GAIL, Shipping Corporation and Marico, says Prabhudas Lilladher

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

BUY GAIL  

CMP: Rs 362.35     

TARGET: Rs  400   

STOP LOSS:  Rs 340

The stock after making a high of 430 levels now has made double bottom at 345 and also taken support at the 200 DMA. The RSI indicator has made a positive trend reversal and the stock now looks ready for an up move to around 400 levels. We recommend a buy in this stock for an upside target of 400 keeping a stop loss of 340.

BUY SHIPPING CORPORATION  

CMP: Rs 83.05     

TARGET: Rs 90   

STOP LOSS: Rs 78

The stock has made a higher top higher bottom formation and has now retraced to a support of Rs 77 and is ready for the next round of momentum with high volume & rising indicators. The RSI has indicated a positive trend reversal signaling a buy and with high volume participation we recommend a buy in this stock for an upside target of Rs 90 keeping a stop loss of Rs 78.

BUY MARICO  

CMP: Rs 312.70     

TARGET: Rs 335     

STOP LOSS:  Rs 300

The stock has been in a trending mode and has appreciated decently in the last 4-5 months and has been in consolidation phase for some time. The RSI has indicated a positive trend reversal indicating a buy signal and with high volume participation, we recommend a buy in this stock for an upside target of Rs 335 keeping a stop loss of Rs 300.

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