Technical calls by Religare Broking: Buy Maruti Suzuki, Just Dial

Top trading ideas by Religare Broking:

Maruti Suzuki India Limited

Rec: BUY

Last Close: Rs 9,445.40

Initiation range: Rs 9,400-9,430

Target: Rs 9,780

Stop loss: Rs 9,230

MARUTI has been strongly maintaining its uptrend since 2012 and showing tremendous

resilience in the prevailing corrective phase too. It has taken a pause of late after the

strong up move, offering fresh buying opportunity. Traders are advised to initiate fresh

long position in the given range.

Just Dial Limited

Rec: BUY

Last Close: Rs 586.35

Initiation range: Rs 580-585

Target: Rs 620

Stop loss: Rs 560

JUSTDIAL has been consolidating in a broader range of 520-600 for one and half month

and likely to witness fresh breakout from the same. We advise traders accumulate

gradually in the mentioned range.

UltraTech Cement Limited

Rec: SELL FUTS

Last Close: Rs 3,909

Initiation range: Rs 3,920-3,940

Target: Rs 3,780

Stop loss: Rs 3,995

ULTRACEMCO, after the recent bounce, failed to sustain above the resistance zone of

200 EMA on daily chart and witnessing decline again. The chart pattern is pointing

towards further decline. We suggest initiating fresh shorts in the given range.

Larsen & Toubro Limited

Rec: SELL FUTS

Last Close: Rs 1,288.75

Initiation range: Rs 1,288-1,294

Target: Rs 1,240

Stop loss: Rs 1,315

Though LT has witnessed swift rebound of late but it has failed to cross its resistance

barrier of multiple moving averages viz. 50 & 100 EMA on daily chart, resultant in

formation of a fresh shorting pivot. We recommend creating fresh shorts as per the given

levels.

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

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