 "Buy Siemens, Berger Paints and Bharat Financial, says Religare Securities")
Here are three trading ideas for Tuesday's trade by brokerage Religare Securities:
Berger Paints (I) Limited - BUY
Last Close: Rs 252.40
Initiation range: Rs 252-254
Target: Rs 272
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Stop loss: Rs 244
Berger Paints has been witnessing recovery after retesting the support zone of 200 EMA on the daily chart and formed a fresh buying pivot too. The chart pattern and positioning of oscillators are pointing towards strong surge ahead. We advise creating fresh longs in the given range.
Bharat Financial Inclusion Limited - BUY
Last Close: Rs 765.70
Initiation range: Rs 755-765
Target: Rs 830
Stop loss: Rs 730
Bharat Financial Inclusion has posted a breakout from its declining trend line on daily chart today, after five months of corrective phase. We suggest traders not to miss this opportunity and create fresh longs in the given range.
Siemens Limited - BUY
Last Close: Rs 1,363.45
Initiation range: Rs 1355-1365
Target: Rs 1,460
Stop loss: Rs 1,310
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 favourable. Traders shouldn’t miss this opportunity and create fresh long in the given range.
The analyst may have positions in any or all the stocks mentioned above.
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