But Exide Industries and Hindustan Zinc, says Religare Securities

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Here are two trading ideas for Tuesday's trade by brokerage Religare Securities:

 

Exide Industries Limited – BUY

Last Close: Rs 224.30

Initiation range: Rs 222-224

Target: Rs 236

Stop loss:Rs 218

 

Exide Industries has witnessed decent profit taking from its record high and reached closer to the support zone of multiple moving averages on daily chart. Considering its chart pattern and prevailing trend, we believe it’s a healthy correction and traders should use this to accumulate fresh longs in the given range.

 

Hindustan Zinc -BUY

Last Close: Rs 243.60           

Initiation range: Rs 241-243

Target: Rs 262

Stop loss: Rs 234

 

In line with recovery in metal pack, Hindustan Zinc has rebounded strongly from its support zone around 230 and looks upbeat to maintain this bias ahead as well. Any intraday dip in the given range should be used for initiating fresh longs.

 

SRF Limited - SELL FUTS

Last Close: Rs 1,642.90

Initiation range: Rs 1,650-1,660

Target: Rs 1,560

Stop loss: Rs 1,700

After a sharp correction from its top, SRF witnessed marginal bounce of late but failed to sustain at higher level, which result in formation of fresh shorting pivot. Any bounce in the given range can be utilised for the same.

 

Disclaimer: http://www.religareonline.com/research/Disclaimer/


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