Published on 7/09/2016 2:46:13 PM | Source: Religare Securities Ltd

Technical Recommendation 6th September 2016 - Religare Sec

Posted in Broking Firm Views - Short Term Report | #Trading Report #Religare Securities Ltd


Ceat Ltd 

TECHNICAL RATIONALE – CEATLTD

has witnessed breakout from consolidation range of late, after spending nearly two months. Besides, it has also breached the resistance barrier of 100/200 EMA on daily chart. All indicators are in the favor of bullish bias to extend further.

Recommendation

Buy Ceat Ltd @965-975 Target 1100 Stop Loss 915 CMP 969.55

 

Mahindra & Mahindra Financial Services Ltd

TECHNICAL RATIONALE –

In line with other NBFCs, M&MFIN is also firmly trading closer to its record high. Technically, it has recently seen an upside breakout from a rectangle formation, indicating positive bias to continue ahead as well.

Recommendation 

Buy Mahindra & Mahindra Financial Services Ltd @355-360 Target 395 Stop Loss 345 CMP 357.95

 

 

Torrent Pharmaceuticals Ltd

TECHNICAL RATIONALE –

TORNTPHARM has been consolidating for last two weeks post breakout, which has result in for-mation of fresh buying pivot now. Traders shouldn’t miss this opportunity and accumulate fresh in the given range.

Recommendation

Buy Torrent Pharmaceuticals Ltd  @1620-1640 Target 1785 Stop Loss 1570 CMP 1631.30

 

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