Trading ideas by Ajit Mishra of Religare Broking: Buy Divi's Labs, Nalco

Most metal stocks are trading at their record highs and showing no sign of slowing down

Divi's Laboratories

Recommendation: Buy
Last Close: Rs 3,908.95
Initiation range: Rs 3,900-3920
Target: Rs 4,100
Stop loss: Rs 3,790

We are seeing consistent buying in the pharma space, and Divi's Lab witnessed a fresh breakout from a consolidation range on April 27. The chart pattern and positioning of indicators are pointing towards a strong surge ahead. Traders shouldn’t miss this opportunity and must create fresh longs in the mentioned zone.

Motherson Sumi Systems

Recommendation: Buy
Last Close: Rs 215.65
Initiation range: Rs 214-217
Target: Rs 240
Stop loss: Rs 203

Motherson Sumi has been consolidating