Weekly stock picks by Religare Broking: Buy Asian Paints, BPCL

The up-move in Asian Paints was supported by an exceptional rise in volume, indicating a possible continuation of the positive momentum

Buy ASIAN PAINTS LIMITED

Last Close: Rs 1,891.30

Initiation range: Rs 1,860-1,870

Target: Rs 1,980

Stop loss: Rs 1,820

ASIANPAINT has surged strongly of late and posted a fresh breakout from its 4-month long consolidation phase. The up-move was supported by an exceptional rise in volume, indicating a possible continuation of the positive momentum. We thus advise creating fresh longs within the 1,860-1,870 zone.
 

Buy BHARAT PETROLEUM CORPORATION LIMITED

Last Close: Rs 478.50

Initiation range: Rs 470-474

Target: Rs 500

Stop loss: Rs 460

BPCL has been rebounding sharply after retesting the support zone of 200 EMA on the daily