Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

The stock of HDFC AMC is moving above the 50-EMA level of 2,935 and is showing further strength

BUY HDFC AMC | CMP: Rs 2,929 | Target: Rs 3,350-3,400 | Stop Loss: Rs 2,770

The stock has made a good base near 2,770 levels taking support on thrice occasions and reversing from that level. The RSI has also improved its bias and with the stock moving above the 50-EMA level of 2,935, it has further shown strength. We anticipate further upward movement in the coming days. We suggest to buy and accumulate the stock for an upside target of 3,350-3,400, keeping the stop loss of 2,770. CLICK HERE FOR THE CHART

BUY HERO MOTOCO | CMP: Rs 2,894 | Target: Rs 3,300-3,380 | Stop Loss: Rs 2,720

The stock has corrected well from the peak of 3,620 levels and has currently shown signs of bottoming out near 2,740 levels and is indicating a reversal pattern. The RSI has also witnessed a trend reversal to signal a buy and has improved the bias. The chart looks attractive and we anticipate for further upside movement in the coming days. We suggest to buy and accumulate the stock for an upside target of 3300-3380 keeping the stop loss of 2720. CLICK HERE FOR THE CHART

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