Weekly stock picks by Religare Broking: Buy Bajaj Finance, Biocon, IGL

Here are the weekly stock recommendations by Religare Broking

Buy Bajaj Finance Limited

Last Close: Rs 3,357.75

Initiation range: Rs 3,325-Rs 3,335

Target: Rs 3,520

Stop loss: Rs 3,240
 

Bajaj Finance has swiftly rebounded of late, after retesting its crucial support zone of 200 EMA on daily chart. Indications are in the favour of minor pause, followed by further up move. We advise accumulating within the given range. 

Buy Biocon Limited

Last Close: Rs 228.85

Initiation range: Rs 225-228

Target: Rs 242

Stop loss: Rs 220
 

BIOCON has witnessed a decent correction from the top and has now retraced closer to its major support zone of long term