Weekly stock picks by Religare Broking: Sell August Futures of Lupin, ZEEL

Here are the weekly stock recommendations by Religare Broking

Sell August Futures of Lupin Limited (Initiation range: Rs 750-754)

Last Close: Rs 745.15  

Target: Rs 715

Stop loss: Rs 770
 

Most pharma counters are trading in prolong downtrend and LUPIN is no different. After a marginal bounce of late, it has been struggling around the resistance zone of multiple moving averages for the past month or so and is likely to fall afresh. We advise traders not to miss this chance and create fresh shorts as per the recommended levels. 

Buy Petronet LNG Limited (Initiation range: Rs 236-238)

Last Close: Rs 240.30

Target: Rs 252

Stop loss: Rs 230
 

Petronet