Vaishali Parekh of Prabhudas recommends buying Escorts, Tata Consumer

Tata Consumer seems to have bottomed out near Rs 700 level, and has gradually picked up momentum to improve the bias, says the technical analyst from Prabhudas Lilladher

BUY TATA CONSUMER
CMP: Rs 762
TARGET: Rs 850-870
STOP LOSS: Rs 710

The stock has bottomed out near Rs 700 level after witnesssing a decent correction and has now gradually picked up momentum to improve the bias. Currently with a positive bullish candle pattern on the daily chart, the stock has triggered a 'Buy' signal with strength indicated moving just above the significant converging 200-DMA and 50-EMA levels at Rs 759 to further improve the trend.

The RSI is also well placed and is on the rise with potential to carry on the momentum still further upside. We suggest to buy and accumulate this stock for an upside target of Rs 850-870 keeping the stop loss near Rs 710 level. VIEW CHART

BUY ESCORTS
CMP: Rs 1,869
TARGET: Rs 2,000-2,050
STOP LOSS: Rs 1,800

The stock has witnessed swings in recent times and currently has indicated signs of bottoming out near Rs 1,850-odd levels. Also, after its short correction the bias seems to have improved with consolidation seen and indicating signs of reversal for further upward move in the coming days.

The RSI has also flattened out after the fall and is well placed indicating a trend reversal. With the chart looking good, we anticipate further rise with strength indicated and suggest to buy and accumulate this stock for an upside target of Rs 2,000-2,050 keeping the stop loss near Rs 1,800 level. VIEW 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.