Buy Motherson Sumi with a target price of Rs 540: Prabhudas Lilladher

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

Buy Motherson Sumi with a target price of Rs 540: Prabhudas Liladher
Vaishali Parekh New Delhi
Last Updated : Jun 20 2017 | 11:37 AM IST
Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

BUY MOTHERSON SUMI      

CMP: Rs 490.10        
TARGET: Rs 540      
STOP LOSS: Rs 464

The stock has a very good run-up right from Rs 280 and is still buoyant to give an upward move to scale new highs. The volume participation has been consistently very decent and with the RSI and MACD on the rise, we anticipate the stock to move to the target level of around Rs 540. We recommend a buy in this stock keeping a stop loss of Rs 464.

BUY SUN TV     

CMP: Rs 859.45       
TARGET: Rs  950       
STOP LOSS: Rs 800

The stock has made a double bottom like formation at around Rs 780 and has given a strong pick-up to give a breakout above the previous peak of Rs 854 to strengthen the upward move. The RSI and MACD have been favourable and we anticipate the stock to move further to the levels of around Rs 950. We recommend a buy in this stock keeping a stop loss of Rs 800.

BUY EROS MEDIA     

CMP: Rs 252.65        
TARGET: Rs 300       
STOP LOSS: Rs 215

The stock has taken support at the 200-DMA level of Rs 205 and thereafter has picked up momentum with good volume participation. We anticipate the strong buoyancy to continue still further and along with rising RSI and positive MACD indicators, the upside target of around Rs 300 is achievable. We recommend a buy in this stock for an upside target of Rs 300 keeping a stop loss of Rs 215.

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