3 hot stock picks from Religare Securities

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Religare Securities recommends the followings stocks:

ICICIBANK:    BUY | CMP: 292.85 | Initiation range:292-294 |

Stop Loss:  286 | Target: 310

ICICI BANK has been trading in a congestion zone for the last one month and now trading on the verge of breakout from the same. We suggest traders to accumulate fresh in the given range.

Larsen & Toubro:   BUY | CMP:1695.30 |         Initiation range 1690-1700 |                                   Stop Loss: 1670 |      Target: 1760

After a strong rally from 1300 to 1830 levels, LT has retraced marginal from its record high and found support around its medium term moving averages on daily chart. Considering its prevailing trend, we feel it’s a healthy pause where traders can accumulate fresh long in the given range.

SIEMENS  :    BUY | CMP: 1355.15  |        Initiation range:1335-1345 |                               Stop Loss:1300 | Target:1430

After a strong surge, SIEMENS has been witnessing profit-taking and retraced closer to the support zone around 1300. It has rebounded swiftly of late indicating buying interest around that area and the broader chart formation is also favorable. Traders shouldn’t miss this opportunity and create fresh long in the given range.

Disclaimer: The views and investment tips expressed by investment experts on Moneycontrol are their own and not that of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.