 "Technical calls by Religare Broking: Buy L&T, Sell Canara Bank Futures")
Larsen & Toubro
Recommendation: Buy
Last Close: Rs 1366.60
Initiation range: Rs 1360-1365
Target: Rs 1415
Stop loss: Rs 1340
Also Read
LT has been holding strongly above the support zone of multiple moving averages on the daily chart and looks all set for a fresh up move. The chart pattern combined with indication from oscillators is also adding to the positivity. We advise initiating fresh longs as per the mentioned levels.
Voltas
Recommendation: Buy
Last Close: Rs 601.45
Initiation range: Ra 597-602
Target: Rs 635
Stop loss: Rs 585
The stock, after the recent surge, has been consolidating in a range for last two months while forming a strong base around 50 day EMA on daily chart. Indications are in the favour of fresh up move in near future. We advise accumulating fresh longs in the given range.
Canara Bank
Recommendation: Sell May Futures
Last Close: Rs 257.45
Initiation range:Rs 260-262
Target: Rs 246
Stop loss: Rs 268
In line with other PSU banking counters, it is also trading under pressure. It has slipped below the support zone of 200 EMA on the daily chart of late and formed a fresh shorting pivot. We suggest using any bounce to go short as per the mentioned levels.
United Spirits Limited
Recommendation- Sell May Futures
Last Close: Rs 526.40
Initiation range: Rs 525-530
Target: Rs 485
Stop loss: Rs 545
MCDOWELL-N has been trading with negative bias for last one year. Though it had made several attempts to reverse the trend but failed to cross the resistance hurdle of multiple moving averages and slipped lower. It has again formed a fresh shorting pivot on daily chart. We recommend using any bounce to create fresh shorts in the given range.
========================================
Disclaimer: The brokerage may have positions in any or all the stocks mentioned above.
========================================
Disclaimer: The brokerage may have positions in any or all the stocks mentioned above.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%