Vaishali Parekh of Prabhudas Lilladher recommends buying SBI Cards, Colgate

The technical analysts recommends to buy and accumulate these stocks with stop loss at respective 200-DMAs

BUY: SBICARDS
CMP: Rs 1,046
TARGET: Rs 1,140-1,160
STOP LOSS: Rs 1,000

The stock has bottomed out near the significant 200-DMA support level of Rs 1,000 and also near the trendline support zone indicating a trend reversal with improvement in the bias. The RSI also has indicated a trend reversal from the oversold zone and has signaled a buy with strength indicated and has potential to rise further in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 1,140-1,160 keeping the stop loss of Rs 1,000.  CLICK HERE FOR THE CHART

BUY: COLGATE PAL

CMP: Rs 1,687
TARGET: Rs 1,820-1,850
STOP LOSS: Rs 1,630

The stock has witnessed  a short correction and shown signs of bottoming out near Rs 1,660 level maintaining above the significant 200-DMA level of Rs 1,630 to indicate strength. The RSI also has shown a trend reversal to signal a buy and has potential to carry on the positive move further upward in the coming days. We suggest to buy and accumulate this stock for an upside target of Rs 1,820-1,850 keeping the stop loss of Rs 1,630. CLICK HERE FOR THE CHART

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