Two stock ideas by Vaishali Parekh: Buy CESC, Cadila Healthcare

Cadila Healthcare's stock has taken base near Rs 600 levels on two occasions recently, forming a good support zone

BUY CESC  | CMP: Rs 794 |  TARGET: Rs 880 |  STOP LOSS: Rs 750

The stock has made a higher bottom formation pattern on the daily chart, taking support near Rs 750 levels and has reversed the trend to improve the bias. The RSI indicator has also shown a trend reversal to signal a buy.  Any move above Rs 800 level would indicate a breakout for fresh upside. We suggest to buy and accumulate this stock for an upside target of Rs 880, keeping the stop loss of 750. CLICK HERE FOR THE CHART

BUY CADILA HEALTH | CMP: Rs 640 | TARGET: Rs 700 | STOP LOSS: Rs 610

The stock has taken base near Rs 600 levels on two occasions recently, forming a good support zone. The chart looks attractive as the stock is maintaining above the significant 50EMA level of Rs 610. Moreover, the RSI is well placed and has indicated a potential to pick up momentum and rise further upwards. We suggest to buy and accumulate the stock for an upside target of Rs 700, keeping the stop loss of Rs 610. CLICK HERE FOR THE CHART

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Discalimer: The author is an analyst with Prabhudas Lilladher. Views expressed are personal