Buy ONGC, JSW Steel, says Vaishali Parekh of Prabhudas Lilladher

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
ONGC - BUY
CMP-Rs 187
STOP LOSS-Rs 183
TARGET –Rs 198

 
ONGC has corrected from 200 levels to 180 levels 7 after taking a support of moving average & RSI on daily chart is bouncing back from 30 levels with higher volume, this stock is ready to bounce to higher levels. We recommend a BUY.
 
JSW STEEL – BUY
CMP – Rs 203
SL – Rs 190
TARGET – Rs 220
 
JSW steel has given a breakout above 201 with high volume with rising RSI & positive MACD, which implies strength for this stock to move higher towards 220. We recommend a BUY.

 
AMBUJA CEMENT –BUY
CMP – Rs 243
SL – Rs 232
TARGET – Rs 265
 
Ambuja cement is in process of higher bottom formation on daily chart, now closed above 200dma with higher volume, a decisive move above 245 gives a further upside of 260-265. We recommend a BUY.
 
Disclaimer: The analyst may have positions in any or all the stocks mentioned above.