 "Technical calls by Religare Broking: Buy DLF, Hexaware Technologies")
DLF
Recommendation: Buy
Last Close: Rs 199.50
Initiation range: Rs 196-198
Target: Rs 212
Stop loss: Rs 190
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Post breakout from its resistance zone of 200 EMA on the daily chart, DLF has taken a pause and is hovering in a narrow range, offering a fresh buying opportunity for those who had missed the chance earlier. We advise traders to use this phase and initiate fresh longs position within the mentioned range.
Hexaware Technologies
Recommendation: Buy
Last Close: Rs 359.80
Initiation range: Rs 354-358
Target: Rs 380
Stop loss: Rs 346
In line with other IT counters, Hexaware has recovered swiftly of late and looks strong for the further surge. It has also surpassed the hurdle of multiple moving averages on the daily chart. In short, all indications are in the favor of fresh surge. We advise initiating fresh longs as per the mentioned levels.
United Spirits
Recommendation: Sell April Futures
Last Close: Rs 543
Initiation range: 548-552
Target: Rs 515
Stop loss: Rs 566
The stock has been trading with a negative bias for the last year. Thought it made an attempt to reverse the trend of late, but failed to cross the resistance hurdle of multiple moving averages around Rs 600-mark and slipped lower. It has again formed a fresh shorting pivot on a daily chart. We recommend using any intraday bounce to create shorts as per the levels.
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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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