Buy Jain Irrigation, Lupin and BEL, says Vaishali Parekh

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

BUY JAIN IRRIGATION

CMP: Rs 107.20    

TARGET: Rs 118    

STOP LOSS: Rs 100

The stock has made a higher bottom formation pattern in the daily chart and has now taken support at around Rs 100, which is where the 144-WMA also lies and with the RSI showing positive trend reversal with signs of potential up move in the stock. We recommend to buy this stock for an upside target of Rs 118 keeping stop loss at Rs 100.

BUY LUPIN   

CMP: Rs 1084    

TARGET: Rs 1190    

STOP LOSS: Rs 1030

The stock, after a huge correction right from Rs 1520 has been consolidating for quite some time at around Rs 1050 and has now given a positive bullish candle with huge volume participation. The RSI has also indicated a trend reversal signaling a buy and we anticipate there is a huge potential for more upside targets. We recommend a buy in this stock for a target of Rs 1190 keeping a stop loss of Rs 1030.

BUY BEL   

CMP: Rs 169.60     

TARGET: Rs 185     

STOP LOSS: Rs 158

The stock has witnessed a gradual correction from the levels of around Rs 185 to take support and consolidate at around Rs 158 and now has produced a recovery bullish candle pattern to take the rally to still further higher targets. The RSI has significantly rose to indicate potential growth further, whereas MACD also has indicated a positive trend reversal to signal a buy in this stock. We recommend a buy in this stock for an upside target of Rs 185 keeping a stop loss of Rs 158.

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