2 Technical Stock Buy Ideas For Traders From Prabhudas Lilladher

After being down for quite sometime, Indian markets opened in green on Wednesday's morning trade. By noon BSE Sensex has gone up by 444 points (0.75%) and Nifty was up by 124 point (0.72%). Even some of the major indices like the Bank Nifty and Auto Nifty were up by 0.77% and 0.84%.

Only the volatility index India VIX is down by 5.59, however , Vaishali Parekh, Vice President - Technical Research, of Prabhudas Lilladher Pvt. Ltd has identified two stocks for traders based on technical analysis.

Buy stock of Maruti Suzuki Limited, with a target price of Rs, 9750 and stop loss of Rs 8,400 per share

"The stock has witnessed a gradual slide and consolidated near the significant 200DMA zone of 8630 ,levels and currently has indicated a pullback with improvement in the bias to move past the important 50EMA level of 8,690 to anticipate for further rise in the coming days. The RSI is well placed and has indicated a trend reversal to signal a buy and has much upside potential from here on. We recommend a buy in this stock for an upside target of 9,750 keeping a support level of 8,400." as per the analyst of Prabhudas Lilladher, this is recommended for medium term.

The current market price of Maruti Suzuki Limited stock is Rs 8,738.25 per share, it is up 112.45 points (1.30%) over previous day, while its 52-week high is at Rs 9,768.65 per share and 5 week 2-low is at Rs 6,540 per share.

Buy stock of MTAR Technologies Ltd, with a stop loss of Rs 1,650 for a set price target of Rs1900

As per the analyst "The stock has made a higher bottom formation on the daily chart and is on an upward trend currently moving past the significant 50EMA level of 1,680 to improve the bias and overall the chart looks attractive for further rise in the coming days. The RSI has shown a trend reversal and has signaled a buy in this stock, indicating a positive bias with immense upside potential from here on. With decent volume participation witnessed, we recommend buying this stock with an upside target of 1,900 and a stop loss of 1,650."

The current market price of MTAR Technologies Limited stock is Rs 1,725.05 per share, it is up 35.20 points (2.08%) on intraday basis, while its 52-week high is at Rs 2,160.95 per share and 52-week low is at Rs 1,211.85 per share.

Disclaimer:

The stocks have been picked from the brokerage report of Prabhudas Lilladher, Greynium Information Technologies and 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 consult with certified experts before making any investment decision.