Two stock recommendations by Vaishali Parekh of Prabhudas Lilladher

Buy SBI Cards | CMP: Rs 806.90 | Target: Rs 900 | Stop loss: Rs 740

The stock has taken support near the level of 770 to create a double bottom formation pattern in the daily chart and has gained momentum to improve bias. We are anticipating a fresh upward movement in the coming days as the RSI indicator is well placed, making the chart look good. Considering a stop loss of Rs 740, we suggest buying and accumulating this stock for a target of Rs 900.

Buy GSPL | CMP: Rs 198.50 | Target: Rs 220-225 | Stop loss: Rs 182

The stock has gained momentum and the trend is maintaining a positive bias on the daily chart. The RSI indicator is also well placed and has recently changed the trend indicating strength and is likely to increase in the coming days. The chart looks good, considering the stop loss of Rs 182, we suggest buying and accumulating this stock for a target of Rs 220-225.

Disclaimer: The author is an analyst with Prabhudas Liladhar. It may hold a position in one or more of the shares mentioned above. Views are personal.

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