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Escorts, Schneider Electrical: Two shares that Vaishali Parekh is bullish on

BUY ESCORTS | CMP: Rs 1.267 | Goal: Rs 1,420-1,450 | Stop Loss: Rs 1,200

The stock made a decent correction, bottoming near the 1200 trendline support zone. The trend is currently pointing to a trend reversal to improve the trend. The chart looks attractive as the RSI is also improving the trend and showing a trend reversal to signal a buy. We recommend buying and accumulating this stock for an upside target of 1,400 to 1,450 while maintaining the stop loss at 1,180.

BUY SCHNEIDER ELECT | CMP: Rs 96.50 | Goal: Rs 114-120 | Stop Loss: Rs 90

The share has corrected itself well compared to the highs and is now consolidating. It created a raised flooring pattern close to 90 levels to create a strong base and gained momentum to improve preload. The RSI has also indicated a turnaround to signal a buy and we expect further upward movement from now on. We recommend buying and accumulating this stock for an upside target of 114-120 while maintaining the 90 stop loss.

Disclaimer: The author is a technical analyst at Prabhudas Lilladher. She can hold positions in one or more of the above stocks. Views are personal.

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