 "Buy and sell calls by Religare Securities for Tuesday's trade")
Few trading ideas by Religare Securities for Tuesday's trade:
Colgate Palmolive (India) Limited (COLPAL)
Rec: BUY
Last Close: Rs 1080.45
Initiation range: Rs 1060-1070
Target: Rs 1120
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Stoploss: Rs 1040
COLPAL has retraced marginal from its record high and found support near to medium term moving average on daily chart. Also, it has formed a fresh buying pivot and looks all set for fresh surge ahead. Traders are advised to initiate fresh longs in the given range.
Bank of India (BANKINDIA)
Rec: SELL AUG FUTS
Last Close: Rs 138.90
Initiation range: Rs 142-144
Target: Rs 126
Stop loss: Rs 150
In line with other PSU banking counters, BANKINDIA has been trading under pressure and likely to witness fresh breakdown. Any technical bounce in the given range should be considered as fresh shorting opportunity.
Bajaj Auto Limited (BAJAJ-AUTO)
Rec: SELL AUG FUTS
Last Close: Rs 2770
Initiation range: Rs 2790-2800
Target: Rs 2700
Stop loss: Rs 2860
BAJAJ-AUTO has witnessed a fresh breakdown after nearly a month long distribution phase and likely to witness sharp plunge ahead. We suggest using any bounce in the given range to initiate fresh shorts.
Disclaimer: http://www.religareonline.com/research/Disclaimer/
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