Stock picks by Prabhudas Lilladher: Buy Britannia, IOL Chemicals

Britannia's stock has shown signs of bottoming out

BUY BRITANNIA INDS | CMP: Rs 3,770 | Target: Rs 4,000-4,200 | Stop Loss: Rs 3,400

The stock has been in consolidation for quite some time and, recently, has showed signs of bottoming out near 3,650 levels and again reversing, picking up momentum. The RSI indicator also 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 4,000-4,200 levels, keeping the stop loss of 3,400.

BUY IOL CHEM | CMP: Rs 7,46.50 | Target: Rs 900 | Stop Loss: Rs 680

The stock has witnessed a short correction and shown signs of bottoming out near the support zone of 710 and currently has picked up momentum to improve the bias. The RSI indicator also is 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 900 levels keeping the stop loss of 680.

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