Top technical calls by Religare Broking for today- Buy Tech Mahindra

Top technical calls by Religare Broking for today: Buy Tech Mahindra

Top trading ideas by Religare Broking for today: Tech Mahindra Rec: BUY Last Close: Rs 763.90 Initiation range: Rs 755-760 Target: Rs 800 Stop loss: Rs 720 Tech Mahindra is one of the strongest counters in IT space and it’s trading closer to its record high. It has recently witnessed a breakout from a prolonged consolidation phase of late and looks upbeat for fresh up move. Traders are advised to initiate fresh long positions in the given range.

Adani Ports and Special Economic Zone Rec: SELL FUTURES

Last Close: Rs 375.70 Initiation range: Rs 378-382 Target: Rs 366 Stop loss: Rs 384 Adani Ports has been consolidating in a broader range for last seven months, after making a record high in January 2018. Currently, it’s trading in the middle of the range and formed a fresh shorting pivot. We advise traders to use any technical bounce to go short in the given range.

Oil & Natural Gas Corporation Rec: SELL FUTURES Last Close: Rs 174.05 Initiation range: Rs 176-178 Target: Rs 164 Stop loss: Rs 182 After retesting its monthly support zone around 150, ONGC has witnessed a decent recovery in the last two months but failed to cross the major resistance around 180, resulting in the formation of a fresh shorting pivot. We advise creating fresh shorts in the given range.

ARTICLE SOURCE: BS