Weekly stock suggestions by Religare Broking: Buy TVS Motors, Sun Pharma

Sun Pharmaceutical Industries Limited

Recommendation: Buy

Last Close: 539.35

Initiation range: 535-540

Target: 575

Stop loss:520

Sun Pharma has witnessed a breakout from an inverted head and shoulder pattern (acting as continuous) on December 1, after spending nearly 3 months in a consolidation range. The price surge was accompanied by a noticeable rise in volume adding to the confirmation. Traders shouldn’t miss this buying opportunity and create fresh longs in the given range.


ICICI Prudential Life Insurance Company Limited

Recommendation: Buy

Last Close: 457.35

Initiation range: 455-460

Target: 500

Stop loss: 440

ICICI Prudential has been hovering in a range of 440-460 for the last two weeks while holding strongly above the support zone of multiple moving averages on the daily chart. Indications are now in the favor of breakout in the near future. We thus advise accumulating in the mentioned zone.

TVS Motor Company Limited

Recommendation: Buy

Last Close: 500.35

Initiation range: 495-500

Target: 530

Stop loss: 480

We’re seeing noticeable traction in the auto pack and TVS Motor has also joined the league. It has witnessed a breakout from a flag pattern(indicates pause after a sharp directional move) and likely to march strongly northward in days to come.


Note: All prices are in rupees

Disclaimer: Ajit Mishra is VP – Research at Broking


Dear Reader,

Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.

We, however, have a request.

As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.

Support quality journalism and subscribe to Business Standard.

Digital Editor

Source link
#Weekly #stock #suggestions #Religare #Broking #Buy #TVS #Motors #Sun #Pharma

Leave a Comment