Here's what makes Vaishali Parekh bullish on Bank of India, United Spirits

The stock of United Spirits has taken support near 570 and is forming a double bottom pattern in the daily chart

BUY BANK OF INDIA | CMP: Rs 52.55 | TARGET: Rs 60-70 | STOP LOSS: Rs 45

The stock has maintained a strong base near 45 levels and has indicated a gradual rise. A positive bullish candle is showing improvement in the bias. The RSI indicator is also well placed and has indicated a trend reversal to signal a buy. With the chart looking good, we suggest to buy and accumulate this stock for an upside target of Rs 60-70 levels, keeping the stop loss of Rs 45.

BUY UNITED SPIRITS | CMP: Rs 585.15 | TARGET: Rs 640-660 | STOP LOSS: Rs 550

The stock has taken support near 570 and is forming a double bottom pattern in the daily chart. A bullish candle pattern is currently showing improving bias. The RSI indicator is also well placed and has indicated a trend reversal to signal a buy. With the chart looking attractive, we suggest to buy and accumulate this stock for an upside target of Rs 640-660 levels, keeping the stop loss of Rs 550.

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Disclaimer: The author is analyst at Prabhudas Lilladher. Views are personal.