2 Stocks To Buy For Short-term As Recommended By Prabhudas Lilladhar

Markets have been trading absolutely flat, after 2-days of buying support seen in stocks. Here are 2 stocks recommended by broking firm Prabhudas Lilladhar for the short term.

BUY BANK OF BARODA

Vaishali Parekh, Vice President - Technical Research, Prabhudas Lilladher Pvt. Ltd has recommended buying the stock of Bank of Baroda for a price target of Rs 200 and stop loss of Rs 172.

CMP: 180.5 TRGT: 200 SL: 172

"The stock is in a strong upward trend and after the short correction recently has taken support near the significant 50EMA level of 165 and indicated a trend reversal with a decent pullback improving the overall bias on the daily chart. The RSI has shown a trend reversal with potential visible on the upside to indicate strength and can carry on the momentum still further. We suggest to buy this stock for an upside target of 200 keeping the stop loss of 172," she has said in a report.

 

BUY HUDCO

Another stock that Vaishali Parekh has recommended for the short term is the stock of HUDCO for a price target of Rs 63.

CMP: 51.2 TRGT: 63 SL: 46

The stock after forming the double top formation has slipped with a short correction witnessed and has taken support near 45 zone to indicate a pullback. The bias has improved with sustained upward move and with the RSI also showing a trend reversal has immense upside potential visible. With the risk reward ratio favorable and chart looking good, we recommend a positional buy in this stock for an upside target of 63 keeping a stop loss of 45.

 

Disclaimer

The stock is not a recommendation to "buy" from the author or Greynium Information Technologies Pvt Ld. The "buy" recommendation is from the brokerage house. Greynium Information Technologies, 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 check with certified experts before taking any investment decision.