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Top stock calls by Religare Broking: Buy Dabur, Aurobindo Pharma

Here are the weekly stock recommendations by Religare Broking

Religare Broking  |  Mumbai 

Markets, Buy, Sell, Stocks, Shares

Buy Dabur India Limited

Last Close: Rs 423.75

Initiation range: Rs 415-418

Target: Rs 444

Stop loss: Rs 405

We’re seeing a mixed trend on the fast moving consumer goods (FMCG) front and Dabur is maintaining its positive bias amid volatility. Post breakout from its consolidation range, it has witnessed a marginal dip of late, offering a fresh buying opportunity. We suggest traders using this chance and initiate fresh longs at the given levels.

Buy Aurobindo Pharma Limited

Last Close: Rs 561.75

Initiation range: Rs 560-566

Target: Rs 595

Stop loss: Rs 550

Aurobindo Pharma has retraced considerably after retesting its record high and reached closer to the major support zone around 540. Indications are in the favour of consolidation followed by recovery ahead. Traders should accumulate within the mentioned range.

Sell Tata Chemicals Limited's August Futures

Last Close: Rs 599.50

Initiation range: Rs 602-606

Target: Rs 565

Stop loss: Rs 620

Tata Chemicals has been in a downtrend since the beginning of the year and is likely to maintain this bias ahead also. It has recently failed to sustain above the resistance zone of 200 EMA on the daily chart and formed a fresh shorting pivot. We advise creating fresh shorts position as per the levels.

Sell DLF Limited's August Futures

Last Close: Rs 181.55

Initiation range: Rs 182-184

Target: Rs 166

Stop loss: Rs 190

Despite the rebound in realty index, DLF has been in a consolidation phase and likely to witness a fresh decline. Indications are in the favor of retesting of crucial support zone around 165 in the near future.

Disclaimer: The analysrt may have positions in one or all of the above mentioned stocks


First Published: Wed, July 24 2019. 07:51 IST