ABB: Upside target of Rs 3000 to Rs 3200
According to Vaishali Parekh, Vice President – Technical Research, Prabhudas Lilladher Pvt. Ltd, the ABB stock has made a decent correction from the 3450 level to 2650 and also has shown signs of taking support and consolidating near the 200 DMA level of 2670 which would be quite significant anticipating to give a pullback from here on. “It has also completed the 61.8% retracement level of the recent correction and has been moving sideways in a narrow range for quite some time. With rising volume participation and the RSI recovering from the oversold zone, the chart looks quite attractive for further upward move. We recommend buying and accumulating this stock with an upside target of 3000-3200 and a stop loss near 2550,” Vishali has stated in a report.
BUY Birla Soft: CMP: 299, Target: 330 , Stop Loss: 288
According to her, Birla Soft after the short correction has consolidated and taken support near the 185-188 levels and indicating some improvement in the bias moving past the significant 50EMA level of 298 and with the RSI also flattening out near the oversold after the correction has indicated signs of reversal with immense upside potential visible. “With the chart looking good, we recommend a positional buy in this stock for an upside target of 330 keeping a stop loss of 288,” she says.
BUY PIRAMAL ENT: CMP: 828, TRGT: 955, SL: 800
The stock after forming the triple bottom formation pattern on the daily chart has indicated a strong support zone near 790-800 and with a decent pullback has improved the bias anticipating for further rise in the coming days. With the RSI also showing a trend reversal from the oversold zone has signaled a buy and has immense upside potential visible. “With the risk reward ratio favorable and chart looking good, we recommend a positional buy in this stock for an upside target of 955 keeping a stop loss of 800,” Prabhudas Lilladher’s Vaishali Parekh has said.
Disclaimer
The stocks have been picked from the brokerage report of Prabhudas Lilladher. Greynium Information Technologies, the Author, and the respective Brokerage House are not liable for any losses caused as a result of decisions based on the article. Goodreturns.in advises users to check with certified experts before taking any investment decision.