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Top technical calls from Prabhudas Lilladher: Buy ACC, SBI

Vaishali Parekh/Mumbai 17 Jul 17 | 08:04 AM

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

ACC - BUY

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CMP – Rs 1,750

STOP LOSS – Rs 1,680

TARGET- Rs 1,850

The stock has given a decisive breakout above 1750 level and has gathered momentum with decent volume. The RSI is on the rise as well as the MACD and is signifying strength for further upward move. We recommend a buy in this stock for an upside target of 1850 keeping a stop loss of 1680.

SBI – BUY

CMP - Rs 291.60

STOP LOSS – Rs 280

TARGET – Rs 310

The stock has made a lower bottom formation recently in the daily chart at around 270 levels and has recovered significantly from there on. We anticipate further up move in the stock to scale the previous high of around 315 levels. With decent volume participation and favourable indicators, we recommend a buy in this stock for an upside target of 310 keeping a stop loss of 280.

  

HBL POWER SYSTEMS – BUY

CMP – Rs 47.85

STOP LOSS – Rs 45.50

TARGET – Rs 51

The stock has given a closing breakout above the previous resistance level of 47 with good volume participation and is gathering potential to buoyant in the upward direction. The RSI indicator is on the rise which indicates strength and we anticipate the stock to rally further to make new highs. We recommend this stock for a buy for an upside target of 51 keeping a stop loss of 45.50.

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

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