Vaishali Parekh recommends buying Axis Bank, Hindustan Oil Exploration

The technical analyst from Prabhudas Lilladher finds both these stock attractive on the charts

BUY HIND OIL EXP
CMP: Rs 177.70
Target: 210
Stop Loss: 164

The stock has witnessed a decent correction from Rs 222-level and has taken support near Rs 167-level to indicate a reversal with positive candle pattern. The RSI indicator has also indicated a trend reversal from the oversold zone to signal a buy and has potential to rise further. With the chart looking attractive, we suggest to buy this stock for an upside target of Rs 210 keeping the stop loss at Rs 164.

BUY AXIS BANK
CMP: Rs 816
Target: Rs 890
Stop Loss: Rs 765

The stock has picked up decently from the significant 50-EMA level of Rs 770 and currently trades with a strong bias. Further, on a breakout above Rs 820-level, it is anticipated to carry on the momentum still further upside. The RSI is also well placed and indicating strength and potential for further upward move. We suggest to buy this stock for an upside target of Rs 890 keeping the stop loss at Rs 765.

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