Two stocks that Vaishali Parekh of Prabhudas Lilladher is bullish on

Kotak Bank stock has been moving within a tight range for quite some time and is currently taking support near the significant 200DMA level of Rs 1,737

BUY HINDALCO | CMP: Rs 375.90 | Target: Rs 420 | Stop Loss: Rs 355

The stock after a short correction has consolidated near Rs 365 levels. Currently, with a positive bullish candle, moving past the significant 50EMA level of Rs 373, the stock has improved the bias and indicated strength. The RSI also has shown a trend reversal to signal a buy from near the oversold zone. With the chart looking attractive, we suggest buying this stock for an upside target of Rs 420, keeping the stop loss at Rs 355. CLICK HERE FOR THE CHART

BUY KOTAK BANK | CMP: Rs 1,735 | Target: Rs 1,940-2,000 | Stop Loss: Rs 1,660

The stock has been moving within a tight range for quite some time and is currently taking support near the significant 200DMA level of Rs 1,737. This indicates strength with ample upside potential and we anticipate a further rise in the stock in the coming days. The RSI has also flattened out to improve the bias and is well placed to show strength for further upmove. With a minimum risk-reward ratio, the chart looks attractive and we suggest buying and accumulating this stock for an upside target of Rs 1,940-2,000, keeping the stop loss of Rs 1,660. 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.