 "Buy RBL Bank, Siemens and Century Textiles, says Religare Securities")
Here are three trading ideas for Tuesday's trade by brokerage Religare Securities:
RBL Bank
Rec: BUY
Last Close: Rs 517.70
Initiation range: Rs 512-516
Target: Rs 545
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Stoploss: Rs 500
RBL BANK, after retracing from its record high, has consolidated around the support area of 100-EMA on the daily chart and has formed a fresh buying pivot. The chart pattern combined with indications from the oscillators is pointing towards strong surge ahead. Thus we suggest traders to accumulate fresh long in the given range.
Siemens Limited
Rec: BUY
Last Close: Rs 1344.15
Initiation range: Rs 1328-1335
Target: Rs 1410
Stop loss: Rs 1295'
After a strong surge, Siemens has been witnessing profit-taking and retraced closer to the support zone around Rs 1,300. It has rebounded swiftly of late indicating buying interest around that area and its chart formation is also favourable. Traders shouldn’t miss this opportunity and create fresh long in the given range.
Century Textiles & Industries Limited
Rec: BUY
Last Close: Rs 1129.55
Initiation range: Rs 1115-1125
Target: Rs 1190
Stop loss: Rs 1090
CENTURYTEX is now trading on the verge of breakout from its month long consolidation phase on daily chart. The support of multiple moving averages combined with chart formation clearly indicating a possibility of strong surge in near future.
Disclaimer: http://www.religareonline.com/research/Disclaimer/
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