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Bharat Forge Limited
Recommendation: Buy
Last Close: Rs 783.15
Initiation range: Rs 780-785
Target: Rs 825
Stop loss: Rs 765
Bharat Forge has been consolidating within the Rs 720-820 zone for the last four months while holding firmly above the support zone of medium term moving average (100 EMA) on the daily chart. The stock is currently trading in the middle of the band and the chart pattern, and indicates the possibility of a breakout soon. We thus recommend accumulating the stock in the mentioned zone.
Bharti Airtel Limited
Recommendation: Buy
Last Close: Rs 713.95
Initiation range: Rs 704-710
Target: Rs 750
Stop loss: Rs 690
Bharti Airtel has been consolidating in a range for the last one month, after making a new record high at Rs 740.20. It has formed a strong base around the Rs 680 zone and looks set for a surge now. We recommend creating fresh longs in the mentioned zone.
The Ramco Cements Limited
Recommendation: Buy
Last Close: Rs 1,067.35
Initiation range: Rs 1,050-1,060
Target: Rs 1,140
Stop loss: Rs 1,020
We are seeing noticeable traction in the cement space and Ramco Cement is trading in sync with others in the sector. The stock has rebounded sharply of late after retesting the major support zone around Rs 935 levels. Indications are in the favor of marginal consolidation, followed by a resumption of the trend. We advise creating fresh longs in the given range.
Disclaimer: Ajit Mishra is VP - Research at Religare Broking.
http://www.religareonline.com/disclaimer
