Top stock calls by Religare Broking: Buy Voltas, sell Lupin June futures

Here are the weekly stock recommendations by Religare Broking.

Voltas Limited

Recommendation: Buy

Last Close: Rs 600.40

Initiation range: Rs 596-600

Target: Rs 630

Stop loss: Rs 585

Voltas has retraced marginally of late, after swift rebound from the support zone of short-term moving averages on daily chart. The current chart pattern combined with favourable reading from the confirmation indicators is pointing towards steady rise in near future. We advise creating fresh longs within the given range.

Lupin Limited

Recommendation: Sell June Futures

Last Close: Rs 708.40

Initiation range: Rs 712-715

Target: Rs 680

Stop loss: Rs 732

Lupin has been trading in downtrend for the last two years and still there’s no sign of reversal. It has recently breached the monthly