Two stock recommendations by Vaishali Parekh of Prabhudas Lilladher

The stock of SBI Cards has taken support near 770 levels to make a double bottom formation pattern in the daily chart and has picked up momentum to improve the bias

BUY SBI CARDS | CMP: Rs 806.90 | Target: Rs 900 | Stop Loss: Rs 740

The stock has taken support near 770 levels to make a double bottom formation pattern in the daily chart and has picked up momentum to improve the bias. We anticipate a fresh upward move in the coming days as the RSI indicator is well placed, indicating strength with the chart looking good. We suggest to buy and accumulate this stock for an upside target of Rs 900, keeping the stop loss of Rs 740.

BUY GSPL | CMP: Rs 198.50 | Target: Rs 220-225 | Stop Loss: Rs 182

The stock has picked up momentum and is in the rising trend maintaining a positive bias on the daily chart. The RSI indicator is also well placed and has made a trend reversal recently indicating strength and has potential to rise in the coming days. With the chart looking good, we suggest to buy and accumulate this stock for an upside target of Rs 220-225, keeping the stop loss of Rs 182.

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