HDFC, RITES: Stock picks by Vaishali Parekh of Prabhudas Lilladher

We anticipate for further upside movement in the coming days in HDFC and RITES stocks

BUY HDFC | CMP: Rs 2,497 | TARGET: Rs 2,800-2,850 | STOP LOSS: Rs 2,350

The stock has maintained a good support near 2,370 levels and has been consolidating for quite some time with gradual improvement in the bias. We anticipate for further upside movement in the coming days. The RSI is also indicating a trend reversal and is showing strength for further upside move. We suggest to buy and accumulate this stock for an upside target of 2,800-2,850 keeping the stop loss of 2,350. CLICK HERE FOR THE CHART

BUY RITES | CMP: Rs 239 | TARGET: Rs 270-280 | STOP LOSS: Rs 225

The stock has maintained a good support near 240 levels since a long time. While it had slipped down to make a low of 233, it recovered back to improve the bias and is looking strong to carry on the momentum still further upside. The RSI also has indicated a trend reversal and signaled a buy. With the chart looking attractive, we suggest to buy and accumulate the stock for an upside target of 270-280 keeping the stop loss of 225. CLICK HERE FOR THE CHART

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Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.