Buy V-Guard Industries, Jet Airways, says Religare Securities

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

V-Guard Industries Limited

Rec: BUY

Last Close: Rs 188.75

Initiation range: Rs 187-189

Target: Rs 205

Stoploss: Rs 181

After hovering in a narrow range of Rs 175 to Rs 187 for the last seven days near to its support zone, V-Guard Industries has witnessed upside breakout from the said congestion zone. Considering its trend and chart formation, we suggest traders to initiate fresh long in the given range.

Jet Airways (India) Limited 

Rec: BUY

Last Close: Rs 497.15

Initiation range: Rs 494-498

Target: Rs 540

Stop loss: Rs 478

Jet Airways registered a fresh breakout in Monday's trade from its congestion zone that lasted for almost nine trading sessions. Current chart patterns look upbeat and indicate further rise from the current levels. Hence, we suggest traders to initiate fresh longs as per the mentioned levels.

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