Buy, Sell, Hold Stock Idea, Based On Technical Analysis

Analyst at brokerage firm, Prabhudas Lilladher has recommended buying the stock of Greaves Ltd. The brokerage has given a price target of Rs 175 and a stop loss of Rs 140 on the stock, as against the current market price of Rs 150.

"The stock has made a decent correction from the higher levels of 184 where currently it has consolidated and bottomed out near 145 zone. With a positive candle indicated the bias has improved forming a higher bottom pattern on the daily chart and is anticipated to rise further with the RSI also showing a trend reversal from the oversold zone to signal a buy. We suggest to buy and accumulate this stocks for an upside target of 175 keeping the stop loss at 140," a Prabhudas Lilladher report read.