Technical calls by Religare Broking: Buy SBI and Century Textiles

Here are the top trading ideas by Religare Broking.

State Bank of India

Recommendation: Buy

Last Close: Rs 314.65

Initiation range: Rs 309-313

Target: Rs 330

Stop loss: Rs 302

Unlike other PSU bank majors, State Bank of India (SBI) has been trading strong while holding firmly above the support zone of major moving averages. It has recently tested crucial support zone around Rs 290 and rebounded sharply thereafter. The chart pattern combined with positioning of oscillators is pointing towards strong up move in near future. We advise initiating fresh longs in the given range.

Century Textiles and Industries

Recommendation: Buy

Last Close: Rs 907.15

Initiation range: Rs 900-905

Target: Rs 950

Stop loss: Rs 880

Century Textiles, after a strong surge,