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Technical calls from Prabhudas Lilladher: Buy JK Tyres, Gujarat Alkalies

Vaishali Parekh/Mumbai 18 May 17 | 08:03 AM
 Ramkrishna Forgings Ltd
tradenow

BSE   24 May 17 | 01:21 PM

428.10  -28.1 (-6.16%)

NSE   24 May 17 | 01:14 PM

434.40  -23.7 (-5.17%)

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

JK TYRE INDUSTRIES - BUY    

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CMP: Rs 179.65   

TARGET:  Rs 190   

STOP LOSS:  Rs 172

The stock after making a higher bottom formation has recovered to bounce back to its previous peak level of around 180 and is on the verge of a breakout with increasing volume participation. Also with the positive RSI indicator supporting the upward move, we recommend to Buy this stock for an upside target of 190 keeping a stop loss of 172.

RAMKRISHNA FORGINGS - BUY     

CMP: Rs 487.35  

TARGET:  Rs 530  

STOP LOSS: Rs 465

The stock has been moving around in a consolidation phase and with the RSI indicator bouncing back from its oversold zone, has indicated a positive buy signal. We recommend a Buy in this stock with a promising upside target of 530 keeping a stop loss of 465.

GUJARAT ALKALIES & CHEMICALS - BUY    

CMP: Rs 472.65  

TARGET:  Rs 500  

STOP LOSS: Rs 455

After a short period of consolidation at around 455 – 460 levels, this stock has given a breakout and is anticipated to head towards the upward target of 500. The RSI indicator also has made a trend reversal to signal a Buy in the stock. We recommend to Buy this stock for an upside target of 500 keeping a stop loss of 455.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

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