Technical calls by Religare Broking: Buy Dabur India, Muthoot Finance

Stock markets, Indian stocks
Top trading ideas by Religare Broking:

Can Fin Homes Limited (CANFINHOME) 
Rec: BUY
Last Close: Rs 345.30
Initiation range: Rs 344-346
Target: Rs 368
Stop loss: Rs 332

CANFINHOME has retraced considerably from the top and reached closer to its long term support of 200 EMA on weekly chart. It penetrated the same for brief but make equally sharp recovery of late. Now, the chart pattern combined with positioning of indicators is pointing towards strong rebound ahead. We advise traders to create fresh long in the given range. 

Dabur India Limited
Rec: BUY
Last Close: Rs 373.70
Initiation range: Rs 370-372
Target: Rs 385
Stop loss: Rs 365

DABUR, after making a new record high in June, 2018, retraced marginally of late and tested support zone of 100 EMA on the daily chart. Currently, it hovering in narrow range around that area and formed a fresh buying pivot. We suggest traders to initiate fresh longs as per given levels.

Rec: BUY
Last Close: Rs 409.65
Initiation range: Rs 400-405
Target: Rs 430
Stop loss: Rs 385

MUTHOOTFIN has been witnessing correction for last eight months, after it failed to close the resistance barrier of its record high in November, 2017. It formed a base around 365 levels and recovering gradually from thereon. Indications are in the favour fresh surge. We advise traders not to miss this opportunity and create fresh longs as per the mentioned zone.

Pidilite Industries Limited (PIDILITIND) 
Rec: BUY
Last Close: Rs 1076.95
Initiation range: Rs 1070-1080
Target: Rs 1170
Stop loss: Rs 1030

PIDILITIND retraced marginally from its record high and took support around the support zone of 100 EMA on the daily chart. It has spent nearly a month while consolidating in a narrow range and likely to resume the uptrend in near future. We believe it’s an excellent opportunity for the traders to enter. 

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

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