 "Top stock calls by Religare Broking: Buy Century Textiles, Bata, LIC HFL")
Century Textiles & Industries Limited
Recommendation: Buy
Last Close: Rs 937.65
Initiation range: Rs 934-938
Target: Rs 975
Stop loss: Rs 915
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Century Textiles has retraced marginally of late and formed a strong base around the support area of multiple moving averages ribbon on daily chart. The current chart formation combined with positioning of confirmation indicators is pointing towards fresh surge ahead. We advise creating fresh longs within the given range.
Bata India Limited
Recommendation: Buy
Last Close: Rs 1,413.50
Initiation range: Rs 1,405-1,410
Target: Rs 1,480
Stop loss: Rs 1,375
After retesting its support zone around Rs 1,305, the stock has swiftly rebounded of late and is gradually heading towards its record high. Also, it has completed the formation of a fresh buying pivot and holding firmly above the support zone of short-term moving averages. We suggest traders to initiate fresh longs position as per the mentioned levels.
LIC Housing Finance Limited
Recommendation: Buy
Last Close: Rs 550.15
Initiation range: Rs 540-545
Target: Rs 575
Stop loss: Rs 530
LIC Housing Finance has been rebounding for the last eight months, after sharp correction from its record high. It has retraced marginally of late and reached closer to the immediate support zone around Rs 525. The chart pattern combined with positioning of confirmation indicators is adding to the positivity. We advise accumulating within the given range.
Larsen & Toubro Limited
Recommendation: Buy
Last Close: Rs 1,535
Initiation range: Rs 1,535-1,540
Target: Rs 1,610
Stop loss: Rs 1,505
Larsen & Toubro, after making a record high, has been consolidating in a range while holding firmly above the support zone of multiple moving averages on daily chart. It has witnessed a marginal pause, offering fresh buying opportunity. We suggest traders to create fresh longs as per the given 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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