Religare Securities recommends the following stocks:
BUY | CMP:169.95 | Initiation range:171-173 |
Stop Loss: 164 | Target: 188
BEL has retraced closer to its immediate support zone of short term moving averages on the daily chart due to profit-taking from the record high. It has spent nearly two weeks around that zone and likely to witness a strong surge in near future.
BUY | CMP:1894 | Initiation range 1850-1860 |
Stop Loss:1800 | Target: 1970
After a strong up-move, Godrej Consumer Products has taken a pause and it’s currently hovering around its record high. We suggest using this consolidation phase to add fresh longs in the given range.
BUY | CMP: 1339 | Initiation range:1335-1345 |
Stop Loss:1305 | Target:1410
Reliance has formed a fresh buying pivot after spending nearly a month around the support area of short-term moving average on daily chart. It’s normal retracement after a strong surge and should be considered as buying opportunity.
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