 "Top stock calls by Religare Broking: Buy Dabur, Aurobindo Pharma")
Buy Dabur India Limited
Last Close: Rs 423.75
Initiation range: Rs 415-418
Target: Rs 444
Stop loss: Rs 405
We’re seeing a mixed trend on the fast moving consumer goods (FMCG) front and Dabur is maintaining its positive bias amid volatility. Post breakout from its consolidation range, it has witnessed a marginal dip of late, offering a fresh buying opportunity. We suggest traders using this chance and initiate fresh longs at the given levels.
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Buy Aurobindo Pharma Limited
Last Close: Rs 561.75
Initiation range: Rs 560-566
Target: Rs 595
Stop loss: Rs 550
Aurobindo Pharma has retraced considerably after retesting its record high and reached closer to the major support zone around 540. Indications are in the favour of consolidation followed by recovery ahead. Traders should accumulate within the mentioned range.
Sell Tata Chemicals Limited's August Futures
Last Close: Rs 599.50
Initiation range: Rs 602-606
Target: Rs 565
Stop loss: Rs 620
Tata Chemicals has been trading in a downtrend since the beginning of the year and is likely to maintain this bias ahead also. It has recently failed to sustain above the resistance zone of 200 EMA on the daily chart and formed a fresh shorting pivot. We advise creating fresh shorts position as per the levels.
Sell DLF Limited's August Futures
Last Close: Rs 181.55
Initiation range: Rs 182-184
Target: Rs 166
Stop loss: Rs 190
Despite the rebound in realty index, DLF has been trading in a consolidation phase and likely to witness a fresh decline. Indications are in the favor of retesting of crucial support zone around 165 in the near future.
Disclaimer: The analysrt may have positions in one or all of the above mentioned stocks
Disclaimer: http://www.religareonline.com/disclaimer
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