Buy reliance infra, mahindra cie, irb infra, says prabhudas lilladher

Buy Reliance Infra, Mahindra CIE, IRB Infra, says Prabhudas Lilladher

SHARE MARKET - Few trading ideas by Vaishali Parekh, Research Analyst - Technical Research at Prabhudas Lilladher:

BUY RELIANCE INFRA CMP: Rs 526 TARGET: Rs 570

STOP LOSS: Rs 502 The stock has witnessed a steep correction from the peak of Rs 620 to fall to Rs 436 levels and thereafter has recovered significantly and has gained strength to retrace almost 50%. It has produced a healthy positive candle now and the RSI has shown a trend reversal signaling a buy in this stock. We anticipate the stock to move further upward and with decent volume participation witnessed, we recommend a buy in this stock for an upside target of Rs 570 keeping a stop loss of Rs 502.

BUY MAHINDRA CIE AUTOMOTIVE CMP: Rs 251.70 TARGET: Rs 274 STOP LOSS: Rs 235 The stock has been gradually on the rise gaining potential and strength to signify more upward rally in the coming days and with the RSI also indicating a trend reversal on the positive side, we anticipate the stock to rise further to reach new targets. With good volume participation and also MACD on the rise, we recommend a buy in this stock for an upside target of Rs 274 keeping a stop loss of Rs 235.

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ARTICLE SOURCE – BUSINESS STANDARD