Technical calls by Religare Broking: Buy Dr Reddy Labs, Titan Company

Weekly technical recommendation by Religare Broking

Dr. Reddy's Laboratories
 

Recommendation: Buy

Last Close:  Rs 2,676.50

Initiation range: Rs 2,650-2,660

Target: Rs 2,750

Stop loss: Rs 2,610

The stock has been consolidating within a range for last two months or so while hovering around the support zone of moving averages ribbon on multiple time frames. Indications are now in the favour of a breakout in the near future. We advise initiating fresh longs as per the given levels.

 Titan Company 

Recommendation: Buy

Last Close: Rs 1,114.75

Initiation range: Rs 1,100-1,110

Target: Rs 1,170

Stop loss: Rs 1,075

It has witnessed sharp decline from its record high and is currently trading around the support zone of 200 EMA