Top trading ideas by Ajit Mishra of Religare Broking: Buy Airtel, HDFC Life

HDFC Life has formed a strong base after hovering in a narrow range for nearly a month and looks set to reverse the short-term downtrend

Bharti Airtel
 

Recommendation: Buy
 

Last Close: Rs 546.80
 

Initiation range: Rs 540-545
 

Target: Rs 570
 

Stop loss: Rs 530

Bharti Airtel has started rebounding of late after retesting the major support zone of the long-term moving average (200 EMA) on the daily chart. The chart formation on multiple time frames is pointing towards a gradual recovery ahead. We thus advise creating fresh longs in the mentioned zone.

HDFC Life Insurance Company
 

Recommendation: Buy
 

Last Close: Rs 689.70
 

Initiation range: Rs 680-686
 

Target: Rs 705
 

Stop loss: Rs 675

HDFC Life has formed a strong base after hovering in a narrow