Market Tracker: Three stocks to buy in today's trade

Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:
 
L&T - BUY  
CMP: Rs 1,764.45   
TARGET: Rs 1,880  
STOP LOSS: Rs 1,700

 
The stock has been in consolidation phase for quite some time and has taken support near the 1700 levels on several occasions and with a bullish candle formation now, the stock looks attractive for a move in the upward direction. The RSI also has turned positive reversing its trend and with decent volume participation, we recommend a buy in this stock for an upside target of 1880 keeping a stop loss of 1700.

  
RELIANCE INDUSTRIES - BUY
CMP: Rs 1,357.70      
TARGET: Rs 1,470      
STOP LOSS: Rs 1,300
 
The stock has taken support at around 1300 levels regularly and has maintained a good base at that level. With the formation of a bullish candle, the stock is anticipated to move towards the previous high of 1470 levels and with RSI reversing its trend on the positive side, we recommend to buy this stock for an upside target of 1470 keeping a stop loss of 1300.
 
ENGINEERS INDIA – BUY
CMP: Rs 156.20      
TARGET: Rs 174     
STOP LOSS: Rs 145
 
The stock has made a lower bottom formation pattern in the daily chart and has given a bullish candle formation now. The RSI indicators from its oversold zone has reversed its trend signaling a buy and we anticipate the stock to move upward towards its previous peak level of 174. We recommend a buy in this stock for an upside target of 174 keeping a stop loss of 145.

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