Trading ideas by Religare Broking: Sell Hindalco, TVS Motor futures

TVS Motor's stock has failed to surpass the resistance zone of the long-term moving average on the daily chart

ACC Limited

Recommendation: Buy 

Last Close: Rs 1,332.25

Initiation range: Rs 1,325-1,335

Target: Rs 1,450

Stop loss: Rs 1,275

After a sharp correction, ACC has been rebounding for the last three months. On June 30, the stock posted a fresh breakout from a consolidation range and also surpassed the major hurdle of 200 EMA on the daily chart. The breakout was supported by a strong rise in volume, adding to the confirmation. We, thus, advise creating fresh longs as per the given levels.

Hindalco Industries Limited

Recommendation: Sell July Futures

Last Close: Rs 147.20

Initiation range: Rs 149-151

Target: Rs 135

Stop