Buy Hero MotoCorp, Manappuram Fin, Kajaria Ceramics: Religare Securities

Buy Hero MotoCorp with target of Rs 3,880, says Religare Securities

Few trading ideas for Tuesday's session by Religare Securities:

Hero MotoCorp Limited (HEROMOTOCO)

Rec: BUY FUTS

Last Close: Rs 3676

Initiation range: Rs 3660-3670

Target: Rs 3880

Stoploss: Rs 3570

After a strong rally, HEROMOTOCO has been witnessing profit booking and retraced closer to its support zone around Rs 3600. The chart pattern indicates marginal consolidation followed by a strong up move. Thus, traders shouldn’t miss this opportunity and create fresh long in the given range.

Kajaria Ceramics Limited (KAJARIACER)

Rec: BUY

Last Close: Rs 676.65

Initiation range: Rs 670-680

Target: Rs 740

Stop loss: Rs 648

KAJARIACER rebounded strongly in the previous session from its support zone of medium-term moving averages on daily chart, after consolidating in a broader range for almost two months. Considering its chart pattern, we believe a strong surge is likely in the near-term.

Manappuram Finance Limited (MANAPPURAM)

Rec: BUY
 

Last Close: Rs 106.75

Initiation range: Rs 105-107

Target: Rs 120

Stop loss: Rs 101

After a marginal correction from its record high, MANAPPURAM looks all set for a fresh up move. Existence of strong support around Rs 102 combined with buoyancy in financial space is adding to the positivity. Traders can accumulate in the given range.

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