Web Exclusive
Weekly stock picks by Religare Broking: Buy Godrej Consumer, Hero MotoCorp

The consistent buying interest in the auto pack is led by the surge in two-wheeler segment
Buy Godrej Consumer Products Limited

Last Close: Rs 677.45

Initiation range: Rs 670-675

Target: Rs 715

Stop loss: Rs 655

After an up move from 600 to 720 levels, GODREJCP has been trading with a corrective bias for the last three weeks. It has tested the support zone around 660 of late and indications are now in the favor of a rebound. Traders are advised to initiate fresh longs in the given range.

Buy Hero MotoCorp Limited

Last Close: Rs 2,841.25

Initiation range: Rs 2,820- Rs 2,830

Target: Rs 2,980

Stop loss: Rs 2,750

We’re seeing consistent buying interest in the auto pack and the two-wheeler segment is leading the surge. Among all, HEROMOTOCO has formed a fresh buying pivot on the daily chart, after a marginal dip. The chart pattern is pointing towards a steady rise ahead. We, thus, suggest traders not to miss this chance and accumulate fresh longs within the mentioned zone.

Buy Sun Pharmaceutical Industries Limited

Last Close: Rs 482.60

Initiation range: Rs 478- Rs 482

Target: Rs 505

Stop loss: Rs 465

SUNPHARMA has been consolidating in a range of 465-510 levels for the past two months or so while holding strongly above the support zone of the long-term moving averages on the daily chart. Recently, it has retested the lower band of the range and is likely to see a fresh rebound ahead. We, thus, advise creating fresh longs as per the mentioned levels. 

Last Close: Rs 2,310.20

Initiation range: Rs 2,280- Rs 2,300

Target: Rs 2,450

Stop loss: Rs 2,220

The IT majors are leading the recent up move in the benchmark index and TCS looks upbeat to continue the prevailing momentum. It has witnessed a fresh breakout on Tuesday (i.e. July 28), after spending nearly two weeks in consolidation. We advise initiating fresh longs in the given range.

Business Standard is now on Telegram.
For insightful reports and views on business, markets, politics and other issues, subscribe to our official Telegram channel