Buy DCB Bank, Delta Corp and Pidilite Industries, says Religare Broking

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DCB Bank
Rec: BUY 
Last Close: Rs 173.70
Initiation range: Rs 172-175
Target: Rs 190
Stop loss: Rs 166

DCB Bank has been gradually rebounding for last one month and likely to witness resistance breakout in near future. The chart pattern combined with indications from the sectoral index is pointing towards strong surge ahead. We advise accumulating fresh longs in the given range. 

Biocon 
Rec: BUY
Last Close: Rs 612.30
Initiation range: Rs 610-615
Target: Rs 660
Stop loss: Rs 592

After retesting its support zone of 200 EMA on the daily chart, BIOCON has swiftly rebounded of late and looks upbeat to maintain this uptrend momentum. Further existence of support zone of short-term moving averages i.e. (100/50) EMA and bullish reversal in the pharma sector are added positive. We advise traders to create fresh longs as per the mentioned levels.

Delta Corp
Rec: BUY
Last Close: Rs 267.25
Initiation range: Rs 262-266
Target: Rs 290
Stop loss: Rs 253

Delta Corp has been consolidating in a narrow range for the last two weeks, taking a pause after the recent rally. It’s comfortably holding above the support zone of multiple moving averages on the daily chart and likely to see a fresh surge in near future. Traders should utilize this buying opportunity and accumulate fresh longs in the mentioned range. 

Pidilite Industries
Rec: BUY
Last Close: Rs 1,143.05
Initiation range: Rs 1,140-1,150
Target: Rs 1,220
Stop loss: Rs 1,110

Pidilite Industries is a gradually inching towards its record high, after the marginal corrective phase. The chart pattern and positioning of the confirmation indicators are in the favour of strong up move in near future. We advise creating fresh longs in the given range.

Disclaimer: The analyst may have positions in any or all the stocks mentioned above.

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


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