 "Stock calls by Religare Broking: Buy HUL, Raymond, India Cements & RBL Bank")
Hindustan Unilever Limited
Recommendation: Buy
Last Close: Rs 1,776.90
Initiation range: Rs 1,765-1,775
Target: Rs 1,860
Stop loss: Rs 1,725
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Mostly, FMCG counters are witnessing consolidation and Hindustan Unilever is no different. After hovering in a range for nearly two months, it’s likely to resume the uptrend in near future. The existence of multiple moving averages combined with favourable market trend is adding to the positivity. We advise accumulating in the given range.
Raymond Limited
Recommendation: Buy
Last Close: Rs 850.25
Initiation range: Rs 835-840
Target: Rs 900
Stop loss: Rs 815
Post breakout from its consolidation range, Raymond has taken a pause of late, offering fresh buying opportunity for those who had missed the earlier chance. Further, the current chart pattern and positioning of the confirmation indicators are also in sync with our positive view. We advise initiating fresh longs as per the mentioned levels.
India Cements Limited
Recommendation: Buy
Last Close: Rs 112.20
Initiation range: Rs 112-115
Target: Rs 132
Stop loss: Rs 106
India Cements is trading on the verge of breakout from a distorted inverted Head and Shoulder pattern (which acts as bullish reversal) on weekly chart. The recent surge in volume combined with positioning of confirmation indicators is further adding to the positivity. We advise accumulating within the mentioned zone.
RBL Bank Limited
Recommendation- Buy
Last Close: Rs 701.45
Initiation range: Rs 692-696
Target: Rs 730
Stop loss: Rs 680
In the recent rally, private banking counters are leading from the front. RRBL Bank has posted a fresh breakout and also made a new record high at Rs 716.40, after consolidating in a zone for roughly two months. We advise creating fresh longs in the given range.
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Disclaimer: The brokerage may have positions in any or all the stocks mentioned above.
http://www.religareonline.com/disclaimer
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