 "Weekly stock picks by Religare Broking: Buy Bajaj Finance, Maruti Suzuki")
Bajaj Finance Limited
Recommendation: Buy
Last Close: Rs 3,453.25
Initiation range: Rs 3,435-3,445
Target: Rs 3,800
Stop loss: Rs 3,250
Also Read
We've witnessed decent traction in the financial counters of late and Bajaj Finance is now catching up with the trend. It has witnessed a breakout on October 27 from the corrective phase, after spending nearly two months. We advise using any dip to create fresh longs in the given range.
Colgate Palmolive (India) Limited
Recommendation: Buy
Last Close: Rs 1,542.55
Initiation range: Rs 1,525-1,535
Target: Rs 1,630
Stop loss: Rs 1,480
The FMCG pack is set for a surge after the noticeable correction in the last two months. Among the counters, Colgate Palmolive has ended a 6-month long consolidation phase with a significant rise in volume, which is further adding to the confirmation. Traders shouldn't miss this opportunity and accumulate fresh in the mentioned zone.
L&T Finance Holdings Limited
Recommendation: Buy
Last Close: Rs 66.55
Initiation range: Rs 65.5-66.5
Target: Rs 72
Stop loss: Rs 63
L&T Finance has been consolidating in a broader range of 55-75 for the last three months or so. It has witnessed a breakout from a bullish reversal pattern formed within this zone and likely to retest the upper band shortly.
Maruti Suzuki India Limited
Recommendation: Buy
Last Close:Rs 7,158.40
Initiation range: Rs 7,150-7,160
Target: Rs 7,450
Stop loss:Rs 7,010
The auto pack is largely trading in tandem with the benchmark and most stocks have recovered to their pre-covid levels. Among the counters, Maruti has recently witnessed a fresh breakout from a flag pattern (indicates pause) and trading on the verge of surpassing the hurdle of the previous swing high. We advise initiating long positions in the given range.
===============================
Disclaimer: Ajit Mishra is VP - Research at Religare Broking
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%