Trading ideas by Prabhudas Lilladher: Buy Praj Industries, Godrej Consumer

For Praj Industries, the RSI has shown signs of positive bias with good volume

BUY PRAJ INDS | CMP: Rs 107.65 | TARGET: Rs 125-130 | STOP LOSS: Rs 102

The stock has corrected well and has consolidated near 105 levels to maintain a good base with support. Currently, we anticipate a bounce back with strength and the potential to rise further. The RSI has shown signs of positive bias and with good volume participation witnessed, we suggest to buy and accumulate this stock for an upside target of 125-130 levels keeping the stop loss of 102.

BUY GODREJ CONSUMER | CMP: Rs 642.15 | TARGET: Rs 700-710 | STOP LOSS: Rs 610

The stock has witnessed a decent erosion recently from the peak of 765 levels and has showed signs of bottoming out at near 615 levels with a bounce back. The RSI has indicated a trend reversal from the highly oversold zone to signal a buy and with the chart looking attractive, we suggest to buy this stock for an upside target of 700-710 keeping the stop loss of 610.