Buy RBL Bank, Siemens and Century Textiles, says Religare Securities

Here are three trading ideas for Tuesday's trade by brokerage Religare Securities:

RBL Bank

Rec: BUY
 

Last Close: Rs 517.70

Initiation range: Rs 512-516

Target: Rs 545

Stoploss: Rs 500

RBL BANK, after retracing from its record high, has consolidated around the support area of 100-EMA on the daily chart and has formed a fresh buying pivot. The chart pattern combined with indications from the oscillators is pointing towards strong surge ahead. Thus we suggest traders to accumulate fresh long in the given range.

Siemens Limited

Rec: BUY
 

Last Close: Rs 1344.15

Initiation range: Rs 1328-1335

Target: Rs 1410

Stop loss: Rs 1295'

After a strong surge, Siemens has been witnessing profit-taking and retraced closer to the support zone around Rs 1,300. It has rebounded swiftly of late indicating buying interest around that area and its chart formation is also favourable. Traders shouldn’t miss this opportunity and create fresh long in the given range.

Century Textiles & Industries Limited

Rec: BUY
 

Last Close: Rs 1129.55

Initiation range: Rs 1115-1125

Target: Rs 1190

Stop loss: Rs 1090

CENTURYTEX is now trading on the verge of breakout from its month long consolidation phase on daily chart. The support of multiple moving averages combined with chart formation clearly indicating a possibility of strong surge in near future.

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