Weekly stock picks by Religare Broking: Buy HPCL, Power Finance Corporation

Here are the weekly stock recommendations by Religare Broking

Buy Hindustan Petroleum Corporation Limited

Last Close: Rs 290.20

Initiation range: Rs 288-290

Target: Rs 305

Stop loss: Rs 282

HINDPETRO has been witnessing profit taking for the last three weeks after retesting the resistance zone around 325 levels. It’s currently hovering above the support zone of 100 EMA on the daily chart and is forming a fresh buying pivot. Indications from the energy index are also favorable. We thus advise accumulating fresh longs in the mentioned zone.

Buy Power Finance Corporation Limited

Last Close: Rs 118.45

Initiation range: Rs 117-119

Target: Rs 130

Stop loss: Rs 113

PFC has witnessed