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Trading strategies by Religare Broking: Buy Indian Oil Corporation, Titan

TITAN has been trading within 940-1030 zone for almost one and a half months, taking a pause after a sharp rebound

IOC surged strongly on July 21, posting a fresh breakout from a month-long consolidation phase
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IOC surged strongly on July 21, posting a fresh breakout from a month-long consolidation phase

Religare Broking Mumbai
Indian Oil Corporation Limited
 
Recommendation: Buy 
 
Last Close: 93.45
 
Initiation range: 91-92
 
Target: 102
 
Stop loss:87
 
IOC surged strongly on July 21, posting a fresh breakout from a month-long consolidation phase. Besides, the energy index has also witnessed a fresh breakout, which further adds to the confirmation. Put together, we are anticipating the momentum to continue ahead thus traders can initiate fresh longsin the given range.
 
Titan Company Limited
 
Recommendation: Buy
 
Last Close: 1,015.15
 
Initiation range: 1,000-1,015
 
Target: 1,110
 
Stop loss: 970
 
TITAN has been trading within 940-1030 zone for almost one and a half months, taking a pause after

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