Stocks to Buy: Cochin Shipyard, Mazagon Docks among 4 Defence Sector technical picks by Prabhudas Lilladher

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Key Points

The target price of 1250 for Cochin Shipyard as per Parekh's technical thematic report, with a stop loss at 890, indicates almost 17% upside for the stock from here on..

Cochin Shipyard after a short consolidation phase has given a clear breakout above the rectangular box formation at 940 levels..

Garden Reach Shipbuilders & Engineers after the decent correction that it had witnessed from 920 zone had recently taken support near the 680 zone and indicated a decent pullback moving past the important 200 period MA (moving average) and 50 EMA (exponential moving average) levels to improve the bias anticipating for further rise..

With the chart looking attractive, Parekh suggests to buy Paras Defence and accumulate the stock for an upside target of 760 and 880 levels in the coming days keeping the stop loss of 605 level..

Parekh suggest to buy Mazagon Dock stock for upside targets of 2500 levels keeping the stop loss at around 1780 levels, ..

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