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Business News/ Markets / Stock Markets/  Samvardhana Motherson, Castrol India, Gufic Bio are technical to medium-term picks of Vaishali Parekh
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Samvardhana Motherson, Castrol India, Gufic Bio are technical to medium-term picks of Vaishali Parekh

Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher, recommends three stocks for technical to medium-term investments: Samvardhana Motherson International, Gufic Biosciences, and Castrol India. These stocks come from a diverse basket.

The Prabhudas Lilladher's technical expert recommends buying and accumulating these stocks for upside targets with stop loss. (AP Photo/Gautam Singh))Premium
The Prabhudas Lilladher's technical expert recommends buying and accumulating these stocks for upside targets with stop loss. (AP Photo/Gautam Singh))

Three stocks ranging from 80 to 210 are among the technical to medium-term picks of Vaishali Parekh, Vice President - Technical Research at Prabhudas Lilladher. These are Samvardhana Motherson International, Gufic Biosciences, and Castrol India. On Monday, these shares jumped by 2% to 4% on BSE.

Parekh's three recommendation comes from a diverse basket. While Motherson is a large-cap, Castrol India belongs to the mid-cap category, and Gufic Bio comes under the small-cap bucket. 

Here is what Vaishali Parekh tells about these three stocks.

1. Samvardhana Motherson International: (Target price of 97 with a stop loss of 79):

On Monday, Motherson's stock price ended at 83.77 apiece up by 2.48% on BSE. Year-to-date, the stock has gained nearly 11%.

The stock has given a decent rise and currently has indicated a breakout above the falling trendline zone of 82 levels to improve the trend and bias with immense upside potential visible. The overall outlook is maintained strong and with the chart looking attractive the RSI also well placed and already in a strong zone has once again starting picking up.

Parekh said, "We suggest buying and accumulating this stock for an upside target of 97 while keeping the stop loss at 79."

Samvardhana Motherson is one of the world’s leading specialised automotive component manufacturing companies for OEMs. It was formerly known as Motherson Sumi Systems, was established in 1986 as a joint venture with Sumitomo Wiring Systems and was listed in 1993 on BSE and NSE in India.

2. Gufic Biosciences: (Target price of 230 with a stop loss of 195):

On BSE, Gufic's share price closed at 204.50 apiece, soaring by 3.57%. However, so far in 2023, the stock has tumbled by nearly 11%.

The stock after the short correction has bottomed out near 194 with currently indicating a bullish candle pattern on the daily chart with improvement in the bias moving past the important 50EMA level of 201.

Further rise is anticipated with the RSI also showing strength, signaling a buy and has much upside potential to carry on the momentum still further ahead. A breach above the 200 period daily MA would further strengthen the trend and can expect for further upward move.

"We suggest buying and accumulating the stock for an upside target of 230 while keeping the stop loss at 195," Parekh added.

Gufic Bio is engaged in the Research and Development, manufacturing, marketing, distribution and sale of pharmaceutical and allied products.

3. Castrol India: (Target price of 127 with a stop loss of 111):

On BSE, Castrol's share price ended at 116.20 apiece, higher by 2.83%. This stock's year-to-date performance is a drop of 7%.

The stock after the short correction has consolidated near 112-114 zone forming a strong base and currently has indicated a bullish candle pattern on the daily chart moving past the significant 50EMA to improve the bias. Further rise is anticipated with the RSI also showing strength by showing a trend reversal, signaling a buy and has much upside potential to carry on the momentum still further ahead.

Hence, Parekh suggests buying and accumulating the stock for an upside target of 127 while keeping the stop loss at 111.

Castrol India has one of the largest manufacturing and marketing networks amongst lubricant companies in India.

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Published: 12 Jun 2023, 10:05 PM IST
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