Top trading ideas by Vaishali Parekh: Buy Grasim Industries, Bharat Forge

BUY GRASIM | CMP: Rs 1,401 | Target: Rs 1,600-1660 | Stop Loss: Rs 1,220

The stock, after the recent correction, has bottomed out near 1260 levels and has currently picked up momentum to move past the significant 50-EMA level of 1315 to improve the bias. The chart looks attractive and, with the RSI also improving with a trend reversal, the indicators suggest strength to signal a buy. We advise to buy and accumulate this stock for an upside target of 1600-1660 keeping the stop loss of 1220. CLICK HERE FOR THE CHART

BUY BHARAT FORGE | CMP: Rs 610 | Target: Rs 700-720 | Stop Loss: Rs 560

The stock has bottomed out near 560 levels after forming a double bottom pattern in the daily chart and has currently picked up momentum to move past the significant 50EMA level of 596 to improve the bias. The stock has potential to rise further till 660 levels and, with the RSI also improving the bias and indicating strength, and we anticipate a decent upmove from hereon. We suggest to buy and accumulate this stock for an upside target of 700-720 keeping the stop loss of 560. CLICK HERE FOR THE CHART


=======================
Disclaimer: The author is a technical analyst with Prabhudas Lilladher. She may have positions in one or more stocks mentioned above. Views are personal.

Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Leave a Reply

Your email address will not be published. Required fields are marked *