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Weekly stock picks by Religare Broking: Buy HDFC Bk, Sell ACC Aug Futures

Here are the weekly stock recommendations by Religare Broking

Image: iSTOCK
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Image: iSTOCK

Religare Broking Mumbai
HDFC Bank 
 
Recommendation: Buy 
 
Last Close:  Rs 2,252.25
 
Initiation range: Rs 2,235-2,245
 
Target: Rs 2,340
 
Stop loss: Rs 2,200
 
In line with the others, HDFC Bank has witnessed decent correction from its record high and has tested its crucial support zone of the long term moving average (200 EMA) on the daily chart of late. Indications are in the favor of some consolidation around the current levels, followed by a steady recovery.
 
ACC 
 
Recommendation: Sell Aug Futures
 
Last Close: Rs 1,536
 
Initiation range: Rs 1,545-1550
 
Target: Rs 1,460
 
Stop loss: Rs 1,600
 
We’re seeing a mixed trend in the cement

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First Published: Jul 31 2019 | 7:48 AM IST

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